4th 9 Weeks SS Exam on Economics

The people who buy goods and services are called...

• producers
• consumers
• banker
• traders

The people who make goods or provide services are called...

• producers
• consumers
• banker
• traders

Things that one must have to survive

• wants

• needs

• goods

• services

Things that you do not need to survive

• wants

• needs

• goods

• services

Things that are made for people to buy and use

• wants

• producers

• goods

• services

trading

• bartering

• demand

• goods

• services

how much of something there is for people to buy

• bartering

• demand

• supply

• scarcity

How many people need or want something

• bartering

• demand

• supply

• scarcity

Not having enough of something

• opportunity cost

• demand

• supply

• scarcity

Something you give up to get something else

• opportunity cost

• demand

• supply

• scarcity