Economics

Someone who makes a good or provides a serve.

• Producer

• Consumer

• Shortage

• Supply

A consumer is...

• someone who sells or provides a good

• amount people actually want or need

• someone who buys goods and services

• trading goods and services without money

the amount of product people actually want or need:

• Supply

• Shortage

• Surplus

• Demand

when there is a greater supply of something than demand for it:

• Supply

• Shortage

• Surplus

• Demand

not having enough of something:

• Supply

• Shortage

• Surplus

• Demand

trading goods without money

• import

• Shortage

• Barter

• export

What is scarcity, and how does it affect the price of goods and services?

Miss Smiley orders a coffee from Salad 'n' Go, who is the producer?

• Miss Smiley is the producer

• Salad 'n' Go is the producer

• The grocery store is the producer

Mrs. Davis buys her groceries from Fry's, who is the consumer?

• Mrs. Davis is the consumer

• Fry's is the consumer

• Neither are a consumer

Mrs. Peptenar takes a Yoga Class at the YMCA, who is the producer?

• Mrs. Peptenar is the producer

• The YMCA is the producer

• Neither are producers