Economics

Income set aside for unexpected expenses

• savings

• goods

• services

• producer

things purchased by consumers

• goods

• consumer

• producer

• supply

A person who purchases a good or service

• consumer

• taxes

• supply

• good

Basic things humans need to survive

• need

• want

• import

• demand

not having enough

• scarcity

• supply

• human resouce

• taxes

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

• Goods

• Services

• Producers

• Consumers

________________ are activities that satisfy people’s needs and wants.

• Goods

• Services

• Needs

• Wants

_______________ resources are materials that come from nature.

• Special

• Natural

• Human

• Capital

The choice between two goods or services is known as ___________________.

• scarcity

• opportunity cost

• economic choice

• economic specialization

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

• scarcity

• economic choices

• resources

• opportunity cost