Economics Review

The amount of something

• good

• service

• supply

• demand

the study of how resources are used, made, distributed, and exchanged

• services

• producers

• needs

• economics

Something you buy

• needs

• goods

• services

• supply

Things we must have in order to survive

• needs

• wants

• goods

• services

A person who makes goods or provides services

• consumer

• producer

• goods

• services

How much consumers want something

• demand

• supply

• scarce

• economics

An action someone does for someone else

• goods

• services

• producers

• wants

THing we would like to have but do not need for survival

• needs

• goods

• services

• wants

A person who buys and uses goods or services

• consumers

• producers

• supply

• demand

Not enough to meet demand

• supply

• demand

• scarce

• economics