Economics Review

When people trade goods or services for something other than money, it is called ________.

• bartering

• goods

• service

• economy

A _______ is someone who MAKES or SELLS a product.

• producer

• consumer

• economy

• goods

A ________ is someone who BUYS a good or service.

• producer

• consumer

• economy

• barter

Food, toys, and school supplies are all examples of ________.

• services

• goods

• producer

• consumer

Haircuts and car washes are examples of __________.

• producer

• consumer

• goods

• services

When a lot of people really want to buy an item, it is in high _________.

• producer

• consumer

• supply

• demand

________ is how much a store has of an item.

• supply

• demand

• producer

• consumer

_______ come from the Earth (air, water, soil).

• supply

• demand

• natural resources

• economy

_______ happens when there is a shortage of an item.

• scarcity

• supply

• demand

• economy

________ is a system of how money is earned and spent.

• economy

• bartering

• supply

• demand