Economics Basics

Another word for the money people use to buy goods and services is ___________.

The hair stylist is providing a ______.

These people provide a service.  What would you call them?

When lots of people want to buy the same thing, that's called ______.

An example of a human resource is a ___________.

These people are eating at a restaurant.  What are they called?

Which word means "an item grown or made that someone needs to buy?"

When you go to buy a car, you are a _________.

Goods produced and used to make other goods and services like tools are called ___________.

People who make goods or provide services are ____________.

An example of a capital resource is a __________.

Which word means "doing something helpful for others?"

When demand goes up, supply must ____.

Materials that can be found in the environment like fresh water or oil are called ___________.

Making, buying, or selling something that people want or need is called ________.

I have to make a choice of how to spend my money.  The thing I do not pick is called the _____.

An example of a natural resource is _________.

People who make goods can be called _____.