Introduction to Economics

It is something essential to staying alive.

• wants

• needs

• services

It is something nice to have, but it is not necessary to stay alive.

• wants

• needs

• services

When you buy a good or service, you are a _________________.

• seller

• consumer

• producer

A _______________ is a person that makes or grows items or provides a service to others. They have something to sell.

• buyer

• consumer

• producer

Earned money is called _____________.

• tax

• currency

• income

A plush toy is a ___________.

• good

• service

• income

A car wash is a ___________.

• good

• service

• income

This is a way a country uses its money, resources, goods and services.

• opportunity costs

• economy

• savings

This resource is identified as people who make goods or provide services.

• human resources

• capital resources

• natural resources

This resource is identified as tools or machines needed to make products or provide services.

• human resources

• capital resources

• natural resources