Economics Vocabulary

What are people who make or sell goods and services called?

• consumers

• producers

• human resources

• demand

What are items that can be bought and sold?

• demand

• supply

• services

• goods

What is the amount of goods and services available to sell?

• currency

• goods

• services

• supply

What is the system of producing and consuming goods and services and how people use their resources?

• resources

• economics

• competition

• consumers

What are people who take a risk to start a business called?

• producers

• competition

• entreprenuers

• demand

What are the things you need to make or sell goods?

• goods

• services

• demand

• resources

Who are the people who buy goods and services

• consumers

• producers

• competition

• resources

What is work that can be purchased called?

• demand

• supply

• services

• goods

What is it when two companies, people, or location are selling the same items and change their prices to make the most profit called?

• economics

• competition

• supply

• services

What is it called when an amount of people want to buy the available goods?

• supply

• demand

• consumer

• producer