Economics

Using income for purchases, expenses, and debt

• spending

• savings

• goods

• services

things purchased by consumers

• goods

• consumer

• producer

• supply

A person who provides a good or service

• producer

• need

• want

• consumer

A person who purchases a good or service

• consumer

• taxes

• supply

• good

Basic things humans need to survive

• need

• want

• import

• demand

how much of a good or service consumers want

• demand

• spending

• producer

• scarcity

The amount available

• supply

• demand

• import

• natural resource

money paid to the government through income, sales, and purchase of property

• taxes

• goods

• scarcity

• human resource

services provided by people

• human resource

• import

• scarcity

• consumer

goods made to use in the production of other goods

• capital resouces

• demand

• taxes

• export