Consumers and Producer in the Economy

someone who buys goods and services

• producers

• goods

• consumers

• demand

The people who make up the labor force

• Demand

• Human Resource

• Goods

• Product

Businesses owned by people and not the government

• Goods

• Demand

• Supply

• Private Enterprises

Items you can buy from a business with your own money

• Private Goods

• Public Services

• Private Services

• Public Goods

Goods paid for by taxes, not individual consumers, such as law enforcement, sewer systems, and public parks

• Private Services

• Demands

• Public Goods

• Private Goods

The amount of product that is available

• Supply

• Goods

• Demand

• Surplus

Someone who makes a good or provides a service

• Demand

• Surplus

• Shortage

• Producer

The amount of product people actually want or need.

• Goods

• Demand

• Shortage

• Surplus

Work that one person does for someone else

• Supply

• Services

• Goods

• Shortage

When there’s a greater supply of something than a demand for it

• Services

• Shortage

• Surplus

• Goods