Economics Vocabulary

Front

What is a good?

Back

Things people make or grow to sell.

Front

What is an example of a service?

Back

Walking a dog

Front

A want is...

Back

A brand new Iphone!

Front

What do you need? Options: Water-Air-Candy, Food- Shelter-Air-Water, New clothes, Popcorn

Back

Food- Shelter-Air-Water

Front

What is the definition of a producer?

Back

Someone who sells goods and services.

Front

What does a consumer do?

Back

Buys goods!

Front

How would you describe trying to find hand sanitizer during covid?

Back

Scarcity

Front

Natural Resources are....
Options:
Computers,
Mugs,
Mountains

Back

Mountains

Front

Who is a Human Resource?

Back

Mom

Front

I went to lunch and got to choose what to eat, I choose apples instead of peaches. What is my opportunity cost?

Back

Peaches