| A | B |
|---|
| barter | to trade |
| economics | the study of money |
| demand | the quantity of people who want a good or service at a particular time |
| supply | the quantity of a good or service that is available at a given time |
| services | something people do for other people |
| goods | anything that can be held and touched and is wanted |
| needs | people have to have to survive |
| wants | a desire |
| specialization | having one special job |
| interdependence | when people are dependent on other people and communities to get the things they want and need |
| income | the money you earn |
| profit | the extra money you have after you have paid for all resources |
| oppurtunity cost | the best thing you have to give up to get something better |
| scarcity | when there is not enough of something |
| human resources | the skills and strength that people have |
| capital goods resource | the equipment, buildings, roads, tools, and machines needed to produce something |
| producer | a person who makes goods or services using available resources |
| consumer | a person who uses or buys a good or service |
