Occurs when there is not enough of something you want
Economic Terms
Flashcard
•
Social Studies
•
3rd Grade
•
Hard
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12 questions
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1.
FLASHCARD QUESTION
Front
Back
scarcity
2.
FLASHCARD QUESTION
Front
A person who uses goods and services
Back
consumer
3.
FLASHCARD QUESTION
Front
What people use to satisfy their needs and wants
Back
resources
4.
FLASHCARD QUESTION
Front
People depending on each other to do their specialized jobs
Back
interdependence
5.
FLASHCARD QUESTION
Front
The thing you give up when you have to make a choice between two or more things
Back
opportunity cost
6.
FLASHCARD QUESTION
Front
A person who makes a good or provides a service
Back
producer
7.
FLASHCARD QUESTION
Front
Something people do for other people to satisfy their needs and wants
Back
service
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