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Economics Vocabulary

QuestionAnswer
Barter Swap a good or service for something else without money.
Trade Swap a good or service for something else with money.
Scarcity There's not enough of something for all.
Needs Something you need in order to survive.
Wants Things you would like to have.
Opportunity Cost The thing you give up
Economic Choice The thing you pick.
Goods Things you can touch/ buy.
Services Something you pay someone else to do.
Created by: Mrs.L0626
 

 



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