Haylee’s Economics Practice

Things that people make or used to satisfy their needs and wants.

• Goods

• Producers

• Consumers

• Groceries

People who use natural resources, human resources, and capital resources to make goods or provide services.

• Services

• Producers

• Consumers

• People

People who use services or buy goods.

• Services

• Goods

• Consumers

• Producers

Materials that come from nature.

• Goods

• Natural resources

• Human Resources

• Capital resources

People working to produce goods or services.

• Producers

• Consumers

• Human Resources

• Services

The things that people use to make the goods or provide their services.

• Capital Resources

• Goods

• Services

• Consumers

Activities that satisfy people’s needs and wants.

• Goods

• Services

• Consumers

• Producers

Two or more people depending on each other for goods and services.

• Opportunity Cost

• Economic Choice

• Economic Specialization

• Economic Interdependence

Being an expert in one job, product, or service.

• Opportunity Cost

• Economic Choice

• Economic Specialization

• Economic Interdependence

The choice between 2 goods or services.

• Opportunity Cost

• Economic Choice

• Economic Specialization

• Economic Interdependence