Economics

Which is a natural resource a firefighter would use?

• axe

• truck

• water

• siren

A ___________ resource is a tool needed to create goods or provide services.

• capital

• personal

• human

• physical

Something you can buy or use (objects)

• good

• service

• McDonald's

• the sky

This is an example of a need:

• school lunch

• Air Jordan's

• shelter

• soda

A person who buys and uses goods and services

• producer

• consumer

• scarcity

• supply

A person who makes goods or provides a service

• producer

• consumer

• wants

• supply

When someone decides to study for a test instead of staying up late, it is an example of

• studying

• supply

• opportunity cost

• producer

Things we must have to stay alive

• wants

• scarcity

• needs

• demand

The amount of something available for consumers

• producer

• supply

• demand

• resource

How much consumers want something

• demand

• available

• supply

• inventory