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16 Cards in this Set

  • Front
  • Back
Goods that we must have to live are _________________.
Needs
People buy things using _______________.
Money
Goods we like to get, but we do not need to live are called ________________.
Wants
A teacher is a _______________ resource.
Human
Jobs that people do to help other people are ________________.
Services
The study of how people use resources.
Economics
Natural resources are sometimes called __________ _______________.
Raw Materials
_______________ are people or companies that sell goods and services.
Producers
_______________ buy goods and services.
Consumers
The government gets its money by collecting ________________.
Taxes
When there is not enough of something that we want it is called _________________.
Scarcity
A trade that does not use money is called a _______________.
Barter
When you have to give up something to make a choice it is called _________________ ________________.
Opportunity Cost
Water is ________________ a resource.
Natural
The three kinds of resources.
Natural, Human, Capital
Things that people make or grow.
Goods