Economics Vocabulary

A _________ is a person who uses goods and services.

The newest iPhone is an example of a _________.

To have the freedom to operate without interference of the government is called _________.

When goods are sent out of the United States to England, this is called ________.

The money that businesses have left after their costs are paid...

• Checks

• Cash

• Profit

• Abundance

To bring products and resources from one country into another is called...

• Stealing

• Import

• Export

• Trading

Things that you wish for but do not need

• goods

• services

• scarcity

• wants

Someone or a company that makes goods

• producer

• bank

• consumer

• job

How much of something people want

• want

• demand

• scarcity

• producer

Things you can touch and buy (products, merchandise)

• supply

• needs

• goods

• income