NEW
Font size
WorksheetsEconomy Vocabulary
Total questions: 18
Worksheet time: 9mins
___________________—things that people make
Need
Want
Goods
Services
_______________________—things that people do
Need
Want
Goods
Services
____________________—something you need to survive
Need
Want
Goods
Services
____________________—something you would like to have
Need
Want
Goods
Services
______________________—people who use goods and services
Consumer
Producer
Supply
Demand
________________—people and businesses that make or provide goods and services
Consumer
Producer
Supply
Demand
__________________—how much of something people want to buy
Consumer
Producer
Supply
Demand
_____________—how much of something is available to buy
Consumer
Producer
Supply
Demand
_______________—not enough for everyone
Shortage
Surplus
Scarcity
Competition
________________—extra supply of something
Shortage
Surplus
Scarcity
Competion
______________—when there is not enough (none) of an item for everyone who wants or needs it
Shortage
Surplus
Scarcity
Competition
__________________—businesses that sell the same products and try to sell them to the same customers
Competition
Interdependence
Specialization
Opportunity Cost
__________________—when businesses or people depend on each other for goods and services
Competition
Interdependence
Specialization
Opportunity Cost
_____________—being an expert in one job, product, or service
Specialization
Cometition
Interdependence
Opportunity Cost
______________—how much something costs
Price
Opportunity Cost
Imports
Exports
____________________—what you give up when you choose one thing instead of another
Price
Opportunity Cost
Supply
Demand
_______________—goods sold outside of Louisiana to other countries
Supply
Producer
Imports
Exports
_______________—goods brought from other countries that are shipped to Louisiana
Supply
Producer
Imports
Exports
