Review: Economics

Trading something for something else - no currency involved

• demand
• barter
• goods
• market

Tools we use to make products

• capital resources
• human resources
• natural resources
• entrepreneurs

A person who buys goods and services

• consumer
• entrepreneur
• resource
• currency

Tags

CCSS.RI.6.2

CCSS.RL.6.2

CCSS.RI.7.2

CCSS.RL.5.2

CCSS.RL.6.1

another word for money

• barter
• economics
• currency
• price

How much people want something

• supply
• demand

The making, buying and selling of goods and services

• economics
• inflation
• market
• barter

Individuals who come up with a new idea for a good or service, then they make it a reality

• resource
• human resources
• consumer
• entrepreneur

The resources required to make a product (good or service)

• economics
• consumption
• four factors of production
• scarcity

Something we pay for that we can touch

• goods
• services

A general increase in prices

• price
• inflation
• scarcity
• demand