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Basic Economic Vocab (ESL)

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  • At Walmart, you buy ____________.
    Goods
  • What do we call a person who starts and operates their own business?
    Entrepreneur
  • Being a doctor is do a ____________.
    Service
  • What do we call the process of goods being bought and sold? Where prices are determined by the free market, with a minimum of external government control?
    Market
  • What is the word for making or creating something?
    Producing
  • What type of resource is in the picture?
    Human Resources
  • What type of resource is in the picture?
    Capital Resources
  • What type of resource is in the picture?
    Natural Resource
  • What is a company called that buys or sells goods or services?
    Business