3rd Grade Economics Vocabulary Review

A person who buys a product or a service.

• Good

• Want

• Producer

• Consumer

The amount of goods available

• Producer

• Scarcity

• Demand

• Supply

Things that you may like, but you don’t need to survive.

• Wants

• Needs

• Goods

• Services

Products made or grown.

• Wants

• Needs

• Goods

• Services

How badly a person wants a good or a service.

• Supply

• Demand

• Producer

• Consumer

Work someone does for someone else.

• Service

• Good

• Producer

• Consumer

Things that you must have to survive.

• Supply

• Goods

• Wants

• Needs

A person who makes and sells a good or provides a service.

• Producer

• Consumer

• Services

• Goods

A brand new computer is an example of a...

• Want

• Need

• Producer

• Consumer

Malea and her mom go to Walmart and get some flowers for her grandma. This is an example of a...

• Good

• Want

• Producer

• Consumer