Economics Vocabulary

To give a good or service to another in exchange for a different good or service...

• Scarcity

• Barter

• Human Resource

• Import

When there is not enough of something to meet people's needs and wants...

• Need

• Loan

• Trade

• Scarcity

Something that is needed to produce goods and services...

• Capital Resource

• Local Resource

• Goods

• Scarcity

The money that businesses have left after their costs are paid...

• Checks

• Cash

• Profit

• Abundance

Currency

• The way a community uses money, goods, resources, and services.

• A country's system of money.

• Anything a company uses to make or sell a product.

• Resources that come from nature and were made by God.

Consumer

• A person who starts his or her own company.

• A country's system of money.

• The people who buy and use the goods or services.

• Resources that come from nature and were made by God.

Producer

• A person who starts his or her own company.

• People that work for a company.

• A person who makes a good or provides a service.

• Resources that come from nature and were made by God.

Entrepreneur

• The people who buy and use the goods or services.

• A person who starts his or her own company.

• A person who makes a good or provides a service.

• The relationship where two groups depend on each other.

something you can use

• good

• service

• need

• want

something someone does for others

• need

• want

• good

• service