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WorksheetsEconomics - myWorld Chapter 2
Total questions: 15
Worksheet time: 8mins
Items you can see
goods
services
consumers
producers
work that people do
goods
services
consumers
producers
A user of goods and services
consumer
producer
needs
wants
The makers of goods
consumers
producers
needs
wants
To bring in goods from another country
export
carry
deliver
import
To send goods out to another country
export
deliver
carry
import
people's talents and skills
natural resources
capital resources
human resources
trade-off
human-made items used to make other goods or provide services
natural resources
capital resources
human resources
opportunity cost
To give up one thing for another
opportunity cost
resource
trade-off
needs
What you have to give up to get something else
opportunity cost
trade-off
needs
benefit
the useful result of a good or service
opportunity cost
trade-off
benefit
resource
Something you must have to live
want
resource
need
cost
Something you would like to have but do not need
need
want
benefit
cost
Your skills, knowledge, and experience
needs
wants
benefit
human capital
The price needed to get something else
benefit
cost
consumer
wants
