Economics

The study of resources such as money, materials, and labor

• economics

• services

• producers

• goods

Trading something for something else - no currency involved

• demand

• barter

• goods

• market

A person who buys goods and services

• consumer

• entrepreneur

• resource

• currency

How much people want something

• supply

• demand

The resources required to make a product (good or service)

• economics

• consumption

• four factors of production

• scarcity

A general increase in prices

• price

• inflation

• scarcity

• demand

The idea that resources are limited; we don't have an unlimited supply of what we want

• scarcity

• supply

• demand

• inflation

Something we pay to use fora certain amount of time

• services

• goods

What is a want?

• A person

• Something you would like to have but don't need to live

• Purple

• Something you need to live

Tools we use to make products

• capital resources

• human resources

• natural resources

• entrepreneurs