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Economics- 2.7
Click here and play games while you test your knowledge of some economics terms.
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economics
the study of the way the things people need and want are made and brought to them
market
a place where goods are bought and sold
producers
people who make goods
consumers
people who use goods or services
barter
to trade
natural resources
trees, land, minerals and water are some examples
capital resources
buildings and equipment used to produce goods or services
goods and services
everything bought and sold
scarcity
not enough of something, causing choices to need to be made.