Economics 5th Grade

Front

What are services?

Back

Actions or activities that one person performs for another

Front

the performance of a duty or work for another person

Back

services

Front

a desire, wish, or longing for something

Back

want

Front

one who gives money to a business for goods or services

Back

consumer

Front

The amount of goods or services people are willing to buy at a specific time is called____________

Back

demand

Front

Labor is

Back

the work that people do when producing goods or services

Front

Anything commonly used to exchange good and services is called

Back

money

Front

Trade is

Back

the exchange of goods or services using money or barter

Front

Man-made resources used in the production process i.e. machines in a factory.

Back

Capital

Front

The reason why you cant have everything you want is because of

Back

Scarcity