(1)Ch. 7 Working in Our Communities-Vocabulary

a lot of something

• abundance

• capital resource

• consumer

• goods

something that is needed to produce goods and services

• abundance

• capital resource

• consumer

• goods

a person who spends money to buy things he or she needs or wants

• abundance

• capital resource

• consumer

• goods

things that people make or grow and then sell

• abundance

• capital resource

• consumer

• goods

a person who makes products or provides services

• human resource

• needs

• opportunity cost

• producer

things you must have to live

• human resource

• needs

• opportunity cost

• producer

the value of the thing you give up when you choose one thing over another

• human resource

• needs

• opportunity cost

• producer

a person who makes a product or provides a service

• human resource

• needs

• opportunity cost

• producer

the money that businesses have left after their costs are paid

• profit

• scarcity

• service

• value

when there is not enough of something to meet people's needs and wants

• profit

• scarcity

• service

• value