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Dylan SS test 4-4

TermDefinition
Needs things we must have to live (food, clothing, shelter)
Wants things we would like to have, but do not need to live
Resource something that we can use; can be from nature like water or plants
Goods things that people make or grow, to sell
Producer a person who makes or grows a good
Consumer a person who buys and uses goods
Income money that people earn
Services jobs that people to do help others
Skill knowing how to do something
Specialize to do one kind of thing very well
Tax money collected by a government to pay for services
Trade to buy, sell, or exchange goods or services with someone else
Demand how many people want something
Supply how much of it there is
Save to keep something to use later
Savings money that you do not spend right away
Borrow to use something now and give it back later
Loan money that people borrow; they will need to pay it back at another time
Created by: surianogarland
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