Economics and Industry Basics

Front

Agriculture

Back

The business of growing crops and raising livestock

Front

Industry

Back

The business of using raw materials to make products or goods to sell

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Manufacturing

Back

Economic activity that creates goods in factories

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Tourism

Back

The business of encouraging people to travel for fun

Front

Producer

Back

Someone who makes goods or provides services

Front

Consumer

Back

A person who buys goods and services

Front

Supply

Back

The amount of product that is available

Front

Demand

Back

The amount of product people actually want or need

Front

Shortage

Back

When there is a limited supply of something, creating increased demand and higher prices

Front

Scarcity

Back

Not having enough of something