Personal Finance/Economics Vocabulary

Things found in nature that are useful to people

• Natural Resources

• Capital Resources

• Human Resources

• Entrepreneur

A person who takes a risk, or chance, and starts a business

• Producer

• Consumer

• Entreprenuer

• Opportunity Cost

Someone who buys goods

• Entrepreneur

• Producer

• Consumer

• Taxes

The skills, knowledge, and hard work that people bring to their jobs

• Human Resources

• Capital Resources

• Natural Resources

• Entrepreneur

Things made by people that help workers made good or provide services

• Human Resources

• Capital Resources

• Natural Resources

• Entrepreneur

Something you give up in order to get something you want

• Producer

• Opportunity Cost

• Consumer

• Interdependence

Things people buy or sell

• Services

• Economy

• Goods

• Interdependence

Work that one person does for another

• Interdependence

• Currency

• Service

• Taxes

Someone who makes and sells goods

• Producer

• Consumer

• Entrepreneur

• Capital Resources

Relationship between consumers and producers- they are dependent on each other to succeed

• Producers

• Interdependence

• Consumers

• Economy