3rd Grade Economics Terms

The way people buy, make, or sell things is called

• consumer

• economy

• barter

• producer

Need is something that helps someone _______.

• work

• create

• plan

• survive

Something that a person can live without

• want

• need

• plan

• materials

A ________ is a person who buys goods or services.

A ________ is a person/worker that helps to make things.

_________ _________ are materials found in nature that we use to make goods.

• Capital resources

• Human resources

• Natural resources

• Opportunity costs

To exchange goods or services for other goods or services is called

• budget

• barter

• need

• want

A budget is a plan for using ________.

• products

• goods

• services

• money

Work one person does for another is ________.

• service

• demand

• scarcity

• economy

__________ is not having enough of things people want.

• Service

• Scarcity

• Import

• Export