Economics vocabulary

A system for making, managing, and delivering goods and services.

• Import

• Export

• Producer

• Economy

The money a business has left over after ALL its costs are paid

• interdependence

• capital resource

• human resource

• profit

The study of how people use money, goods, and services

• Economics

• trade

• services

• supply

A person or group who MAKES a product or provides a service

• consumer

• producer

• demand

• specialize

The use of tools and ideas to solve problems

• interdependence

• export

• technology

• trade

What you give up when you choose one thing instead of another

• import

• opportunity cost

• economic choice

• goods

this happens when goods and services are bought and sold

• import

• trade

• export

• goods

Jobs that one person or group of people does for another

• good

• service

• economy

• supply

To bring goods from one country into another for sale

• export

• import

• supply

• demand

people who make goods or provide services

• capital resource

• human resource

• natural resource

• specialize