Economics

_____________ are things that people make or use to satisfy their needs and wants.

• Goods

• Services

• Producers

• Consumers

________________ are people who use services or buy goods.

• Producers

• Resources

• Pretty

• Consumers

The term used when there is not enough of something to go around is __________________.

• scarcity

• economic choices

• resources

• opportunity cost

Basic things humans need to survive

• need

• want

• import

• demand

Extras that make life more enjoyable

• want

• need

• producer

• savings

how much of a good or service consumers want

• demand

• spending

• producer

• scarcity

The amount available

• supply

• demand

• import

• natural resource

A good made in the United States and sent to other countries

• export

• consumer

• savings

• taxes

Which of these examples is a service?

• Mr. Farr sells guitars.

• Mr. Swenson gives art supplies to consumers.

• Coach provides lessons for different sports.

• Ms. Miller writes books.

Quantity means

• best item
• the amount