Economic Terminology

What is a system for producing, distributing, and consuming goods and services?

• Goods
• Services
• Market
• Economy

A person, company or business that uses goods and services.

• Consumer

• Producer

• Entrepreneur

A person, company or business makes goods and provides services for consumers.

• Producer

• Resource

• Consumer

• Supply

When someone does help or work for someone, it is called a...?

• Service
• Resource
• Market Economy
• Producer

The combining of resources to make a good or service

• Consumption

• Opportunity Cost

• Supply & Demand

• Production

Objects of value acquired and used by consumers

• distribution

• economy

• service

• goods

Actions or activities an individual, company, or business provides for someone else

• producers

• goods

• production

• service

Moving goods and services directly to or near consumers is called

• consumers

• distribution

• production

• goods

The process of making goods and services.

• consumer

• distribution

• producer

• production

An assembly line that is used in the production of automobiles is an example of

• goods

• services

• production

• distribution