Economics Basics Vocabulary Review

the products that people buy and sell

the resources that are needed to provide goods and services

people and businesses who make and sell goods and services

a choice you make based on the trade-offs and opportunity costs

the amount of something (good/service) that is available to consumers

something that is offered to help make economic decisions

rewards for choices

consequences for choices

the products used to create other products

a chance someone takes when making a decision

how much of something (good/service) that consumers want

choosing one thing over another

an action or work that someone provides to help someone

the study of how people make and spend money by buying and selling goods and services

the people who work to earn money while producing goods and services

things that are found in nature

the people who buy the goods and services

the cost or value of what you give up when you choose one thing over another thing