Economic Study Guide

Something you would like to have

• consumer

• want

• need

• producer

how much of a good or service is available

• demand

• needs

• supply

• goods

work that is done by someone to help another person

• consumer

• want

• service

• producer

things you have to have in order to survive

• demand

• needs

• supply

• goods

the people who buy and use goods and services

• consumer

• want

• service

• producer

things we buy and use

• demand

• needs

• supply

• goods

people who make a good or service

• consumer

• want

• service

• producer

how much an item is wanted

• demand

• needs

• supply

• goods

Is this a want or a need?

• need

• want

Which one is a need? 

• Water
• Soda
• TV
• iPhone