Economics & Transportation Vocab Review

What is the term for someone who starts and manages a business?

• Entrepreneur

• Producer

• Economics

• Manager

What is the term for the study of the way goods and wealth are produced, distributed, and used?

• Opportunity Cost

• Economics

• Entrepreneur

• Management

What is the term for people who create goods and services?

• Entrepreneur

• Producer

• Economics

• Consumer

What is the term for type of transportation that is used on water and powered by steam?

• Steamboat

• Railroad

• Canal

• Bridge

What is the term for people who use goods and services?

• Producers

• Consumers

• Supply

• Demand

What is the term for the amount of something available to use?

• Demand

• Scarcity

• Supply

• Resource

What is the term for products that can be held and touched?

• Services

• Goods

• Capital

• Resources

What is the term for the need or desire for something by people who can pay for it?

• Demand

• Consumers

• Supply

• Purchase

What is the term for the money or property used to start a business?

• Services

• Goods

• Capital

• Investment

What is the term for products that cannot be held and touched?

• Services

• Goods

• Labor

• Resources