Econ Term 2 Week 4

A person who buys goods and services

• consumer
• entrepreneur
• resource
• currency

Tags

CCSS.RI.7.2

CCSS.RI.8.2

CCSS.RL.11-12.2

CCSS.RL.8.1

CCSS.RL.9-10.2

The using up of a resource

• scarcity
• supply
• services
• consumption

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

The place where goods and services are exchanged

• barter
• currency
• market
• resource

Something we use from nature

• natural resource
• human resource
• capital resource
• entrepreneur

The amount of money we pay for a good or service

• currency
• price
• inflation
• economics