Economics

The making, buying and selling of goods and services

• economics
• inflation
• market
• barter

Something we pay for that we can touch

• goods
• services

Which of the following is not a service?

• Dry Cleaner
• Car Wash
• Clothes
• Babysitter

Trading something for something else - no currency involved

• demand
• barter
• goods
• market

The resources required to make a product (good or service)

• economics
• consumption
• four factors of production
• scarcity

What is a need?

• Nothing
• Something you have to have to live
• Something you would like to have
• Ice cream

Something we pay to use fora certain amount of time

• services
• goods

The study of resources such as money, materials, and labor

• economics
• services
• producers
• goods

Tools we use to make products

• capital resources
• human resources
• natural resources
• entrepreneurs

How much people want something

• supply
• demand