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Economic Terms 6th

6th grade history terms

TermDefinition
barter direct trading of goods and services without money
benefits something good or of positive value to someone when making a choice or decision
capital resources goods purchased and used to make other goods or services
consumer people who buy, and/or use, goods and services
cost the total amount of money, time, and resources accumulated when you make a choice, such as a purchase or an activity
economics the study of production, distribution and consumption of goods and services
economic want (want) things people like or desire that can be satisfied by consuming a good, service, or leisure activity
entrepreneur an individual who takes the risk of producing a product or starting a new business
exports the goods or services producers in one nation sell to buyers in other nations
goods objects people can hold or touch that can satisfy their economic wants
human resources the people who work to produce goods and services (labor)
imports the goods and services that consumers buy from sellers in other nations
Created by: marydykstra