Economics Vocabulary

__________ is the study of the economy.

• opportunity cost

• economics

• trade

• voluntary exchange

__________ is the storage of money, possessions, and property.

• economics

• opportunity cost

• consumer

• wealth

___________ is something you can touch or hold.

• service

• economics

• good

• producer

____________ is something someone does for someone else.

• service

• good

• choice

• trade

____________ are resources used to produce goods and services.

• productive resources

• defective resources

• multiple resources

• trade

Choose the 4 types of productive resources.

• Human resources

• Animal resources

• Capital resources

• Entrepreneurship

• Natural resources

___________ is someone who produces or makes a good or service.

• consumer

• professor

• producer

• market economy

___________ is someone who consumes or uses a good or service.

• community

• voluntary exchange

• consumer

• opportunity cost.

An ___________ _____________ is where people rely on others to produce the goods they need.

• isolated systerm

• teamwork system

• interdependent system

• noman system

__________ is the exchange of goods and services for what we need or want.

• trade

• steal

• borrow

• loan