6th Grade Economics

This includes sporting equipment, books, CDs and clothing- almost anything that you can touch.

• Goods
• Services
• Scarcity
• Available

Actions that people perform for others, including things such as piano lessons, haircuts, and airplane trips -things you cannot actually touch or hold.

• Goods
• Services
• Scarcity
• Available

Limited availability of resources/not enough of something.

• Goods
• Services
• Scarcity
• Available

The amount of an item that someone has to sell.

• Need
• Supply
• Demand
• Import

The amount of an item that consumers are willing to buy at different prices.

• Need
• Supply
• Demand
• Import

Goods from a foreign country shipped into a country for use or sale.

• Need

• Supply

• Demand

• Import

Goods and services sold by producers and shipped OUT to buyers in another country.

• Exports

• Imports

• Consumer

• Demand

A person who makes goods or products to sell.

• Producer
• Consumer
• Export
• Import

A person who buys goods and services.

• Producer
• Consumer
• Export
• Import

What are the 3 types of Economic Resources?

• Human

• Natural

• Renewable

• Capital