Economics Vocabuary

The system of producing and consuming goods and services.

• goods

• economics

• services

• export

Resources found in nature.

• capital goods

• entrepreneur

• natural resources

• consumer

People who work for the company.

• human resources

• economics

• import

• income

Tools used to make other goods or services.

• export

• import

• capital goods

• profit

Someone who produces goods in order to make a profit; a risk taker.

• entrepreneur

• consumer

• supply

• demand

Things that are made or things that someone buys.

• human resources

• goods

• scarcity

• taxes

Something one person does for another person.

• goods

• export

• services

• transportation

To send a product or resource from one country to another country.

• export

• import

• capital goods

• economics

To bring a product into a country from another country.

• import

• export

• supply

• demand

Ways of moving things from one place to another.

• competition

• producer

• transportation

• consumer