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the form of money people use in a country
currency
when people trade either goods or services with each other
barter
the money that people earn from working
income
things that people have to have to survive
needs
things that a person would like to have
want
things that are made or grown
goods
jobs people do for other people
services
plan for how how people will spend their money
budget
money that is not spent right away
savings
the money the bank pays you for keeping your money there
interest
what is gained by making a decision
benefit
the cost that is given up after a decision to buy something is made up
opportunity cost
lack of goods or services
scarcity
someone that makes or sells goods
producer
people who buy the goods and services from producers
consumers
how much people want a item
demand
things that are grown or found in nature
natural resources
skills and knowledge people bring to their job
human resource
things used by a producer that help them make their goods
capital Resource
a person who starts a business
entrepreneurs
to bring goods from another country
import
to send out goods to people in other countries
export
candy, a bike, Doritos, McDonalds, and an iphone
want
water, a house, food, carrots, broccoli
need
nurse, teacher, cop, Wawa worker
service
shirts, Nike sneakers, a couch, markers
goods
name 3 types of services
various
name 3 different goods
various
name something that is in high demand right now
various
name something that is in low demand right now
various
what kind of resource is a tractor
capital Resource
what kind of resource is corn
natural resource
what kind of resource is a farmer
human resource


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