Economy

Question 1

Producer

Answer 1

A person who makes goods or provides

Question 2

Consumer

Answer 2

A person who buys and uses goods

Question 3

Wants

Answer 3

Things people would like to have

Question 4

Needs

Answer 4

Things people need to survive like food water shelter and air

Question 5

Economics

Answer 5

Making buying or selling something that people need or want

Question 6

Trade

Answer 6

The process of buying,selling,or exchanging goods and services using money

Question 7

Barter

Answer 7

Exchanging goods and services WITHOUT using money

Question 8

Import

Answer 8

To bring into a place or a country from another county.

Question 9

Export

Answer 9

To send to another place or Country

Question 10

Supply

Answer 10

How much there is of a good and services

Question 11

Demand

Answer 11

How much the goods and services are needed/wanted

Question 12

Economic choice

Answer 12

A decision to one thing and not the another

Question 13

Opportunity cost

Answer 13

The choice given up

Question 14

Scarcity

Answer 14

A lack of resources

Question 15

Interdependence

Answer 15

People dependent on each other

Question 16

Specialization

Answer 16

Focus on a single project or service

Question 17

Natural resources

Answer 17

Materials that come from nature

Question 18

Capital resources

Answer 18

Goods made by people used to make their goods and services

Question 19

Human Resources

Answer 19

People working to produce goods and services