6th Grade Economics

Front

This includes sporting equipment, books, CDs and clothing- almost anything that you can touch.

Back

Goods

Front

Actions that people perform for others, including things such as piano lessons, haircuts, and airplane trips - things you cannot actually touch or hold.

Back

Services

Front

Limited availability of resources/not enough of something.

Back

Scarcity

Front

The amount of an item that someone has to sell.

Back

Supply

Front

The amount of an item that consumers are willing to buy at different prices.

Back

Demand

Front

Goods from a foreign country shipped into a country for use or sale.

Back

Import

Front

Goods and services sold by producers and shipped OUT to buyers in another country.

Back

Exports

Front

A person who makes goods or products to sell.

Back

Producer

Front

A person who buys goods and services.

Back

Consumer

Front

The workers who produce the goods and service (example-Miners, doctors and teachers)

Back

Human Resources