Economics Vocabulary

done for someone else

• producer

• consumer

• goods

• services

people who buy things

• producer

• consumer

• goods

• services

a product or item that is sold

• producer

• consumer

• goods

• services

people who make and sell things

• producers

• consumers

• goods

• services

people who start their own businesses

• entrepreneurs

• demand

• supply

• consumers

the amount of goods or services that a business provides

• entrepreneurs

• demand

• supply

• consumers

the amount of goods or services that consumers are willing to buy

• entrepreneurs

• demand

• supply

• consumers

something that you have to have to survive

• want

• need

• service

• good

something that you would like to have but can live without

• want

• need

• service

• good