Font size
WorksheetsEconomics: Walk of Life
Total questions: 20
Worksheet time: 7mins
Activities that can satisfy people's wants
Goods
Services
Producer
Required payments of money made to governments by people and businesses that are used to provide goods and services
Economics
Supply
Taxes
The study of production, consumption and distribution of goods and services.
Economics
Consumers
Demand
Things people like and desire.
Needs
Services
Wants
Things you must have to live.
Resources
Economic Systems
Needs
Things that can satisfy people's wants.
Goods
Human Resources
Demand
People who use resources to make goods and services.
Consumers
Producers
Human Resources
People who buy and/or use goods and services to satisfy wants.
Producers
Consumers
Human Resources
The amounts that consumers are able and willing to buy at all possible prices at a given time.
Supply
Goods
Demand
The amounts that producers are able and willing to sell at all possible prices at a given time.
Demand
Supply
Goods
The next best choice that you give up.
Capital Resources
Scarcity
Opportunity Cost
Things used to make goods and services.
Natural Resources
Human Resources
Resources
Gifts of nature used to make goods and services.
Natural Resources
Human Resources
Resources
Workers who make goods and provide services.
Natural Resources
Human Resources
Resources
Goods made and used to produce other goods and services.
Capital Resources
Human Resources
Natural Resources
The way a society organizes the production, consumption and distribution of goods and services.
Economic Systems
Scarcity
Choice
Places where buyers and sellers exchange goods and services for money.
Opportunity Cost
Markets
Consumers
When there is not enough for all who want it.
Profit
Opportunity Cost
Scarcity
The income a business makes after it pays its production costs.
Profit
Opportunity Cost
Demand
To make a decision
Choice
opportunity Cost
Demand
