Economics Grade 3

What is economics?

• the study of how goods and services are produced and distributed

• how much of an item you have to sell

• the act of trading goods and services using money, services, etc.

What is barter?

• act of trading goods and services using money

• act of trading goods and services without using money

• how much of an item you have to sell

What is trade?

• person's desire for product or service

• the act of bringing a good into the United States

• act of trading goods and services using money, services

Things that are made or grown and something that you can use or consume

• services

• goods

• supply

• demand

Something that someone does for you

• import

• economics

• supply

• services

How much of an item you have to sell

• demand

• supply

• consumer

• producer

What is demand?

• something that someone does for you

• someone or something that grows or makes product

• a person's desire for product or service

• act or trading goods and services without money

Someone or something that grows or makes product

• producer

• consumer

• import

• export

Someone who purchases a good or service

• import

• export

• producer

• consumer

The act of bringing a good into the United States

• Export

• Import

• Trade

• Barter