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Stack #4609335
| Question | Answer |
|---|---|
| Exchange | trade ne thing for another |
| barter | exchange Goods or services without money |
| needs | what you must have to live |
| wants | things you would like to have but don’t need to live |
| economics choice | when you only have money for certain things not all |
| opportunity cost | what you must give up when you make an economic choice |
| supply | amount of a good or service available |
| demand | what people are willing and able to buy |
| scarcity | sometimes there is not enough of something to go around |
| goods | are things you can buy |
| services | are work other people provide to you |
| Natural resources | things we get from nature |
| human resources | are jobs done by humans at work |
| capital resources | are the machines, tools and buildings needed |
| producers | make goods or provide services |
| consumers | use or buy goods/services |