2nd Economics Vocabulary

How much of something is available

• supply

• income

• wants

• demand

To give something in exchange for money

• sell

• services

• consumer

• bank

Things that are necessary to live (example: food, water, shelter)

• goods

• wants

• needs

• job

The amount of money kept in a bank over time

• services

• income

• goods

• savings

The work a person does to earn money, also called an occupation

• job

• services

• sell

• demand

Someone that uses goods

• producer

• consumer

• job

• bank

Things you can touch and buy (products, merchandise)

• supply

• needs

• goods

• income

Useful work that does not provide any goods

• job

• producer

• services

• demand

A place to keep money safe, a place to borrow money from

• bank

• supply

• demand

• job

How much of something people want

• want

• demand

• scarcity

• producer