Economics Review

Where buyers and sellers exchange goods and services.

• government

• economics

• market

What you give up when making a decision.

• long term goal

• opportunity cost

• producer

Products that can be bought and sold.

• producer

• goods

• services

Work that is done by others.

• services

• consumer

• economics

List 3 goods that could be produced using trees.

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Pick the producer.

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Pick a consumer.

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What does supply chain refer to?

• The stages goods and services go through from their source to the end consumer

• The process of transporting a product from one location to another

• The process of getting a good or service from a warehouse to the end customer

Something like air, food or shelter that is necessary for survival:

• need

• want

• choice

A good or service you would like:

• need

• choice

• supply

• want