Economics Review

People who produce goods and services.

• producer

• consumer

• market

Lack of available resources.

• services

• scarcity

• goods

Resources that come from nature: water, soil, trees, coal, etc.

• natural resources

• scarcity

• market

Someone who buys or uses goods and services.

• producer

• services

• consumer

Pick the producer.

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Pick a consumer.

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What is the name for the owner of the business who takes risks to hopefully earn profit.

• Laborer

• Entrepreneur

• Broker

When someone completes a task to assist you. An example of these could be schools or hospitals.

• Service

• Good

Items that you purchase that can be touched and used.

• Service

• Goods

What is Entrepreneurship?

• Buying an existing, successful business
• Working at Macca's part time
• Having an idea and taking risks to start a new business
• Working from home