Economics Vocabulary

______________ buy goods or services that they need or want.

• Consumers

• Economy

• Producers

• Scarcity

A system of buying and selling goods and services is called...

• goods

• services

• economy

• supply

The amount of goods and services produced is called...

• demand

• scarcity

• supply

• economy

A job that someone does for others is called a....

• good

• need

• economy

• service

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

• economy

• taxes

• supply

• demand