Economics

something you buy or use

• service

• good

• producer

• supply

any action someone does for someone else (like cutting hair)

• service

• demand

• scarce

• wants

a person who makes goods or provides services (ex-barber, chef, coach)

• consumer

• available

• producer

• economics

a person who buys and uses goods and services

• producer

• wants

• user

• consumer

things we would like to have but do NOT need for survival

• wants

• needs

• scarce

• demand

things we must have to stay alive

• supply

• needs

• scarce

• consumer

the amount of something available to customers

• supply

• demand

• consumer

• producer

how much consumers want something

• demand

• available

• scarce

• goods

not enough to meet demand

• scarce

• producer

• wants

• goods

enough to meet demand

• needs

• demand

• available

• producer