Economics Fourth Grade

When supply is less than demand.

Work that specializes in tasks, allowspeople to be productive and do a job that interest them.

Anything people use to make or obtain what theyneed or want.

Making a choice to give up one thing in order to get something else.

A resource that comes from earth or nature.

Something you buy that can be touched.

Something you purchase that someone does for you.  Ex: haircut

Term for everything people desire beyond basicneeds.

The study of money and how goods and services are made, distributed and used.

A person who organizes productive resources totake the risk to start a business.

How much of something is available?

Resource from people, work that people do orskills and knowledge people have.

Businesses compete to gain sales and customers.

How much of something people want is?