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Economic terms

TermDefinition
Income Money that is earned and used to pay for wants and needs
Trade Willingness to agree to swap goods and services
Good Things found in nature or made by man and sold to consumers
Services Actions provided by an expert for a fee
Consumer A person or group that buys goods and services
Producer A person who makes goods or does services
Natural resources Things out in nature that people use to make goods and provides services
Human resources People who make goods or provide services
Capital resources The materials and tools needed to make goods and provide services Construction workers need hammers,screws,etc /. Bakers need bowls,spoons,etc
Created by: Legogirl1
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