| A | B |
|---|
| need | is something that a person cannot live wtihout. |
| want | is something that a person would like to have but can live without . |
| good | is a thing that people want. |
| service | is work done by or for someone to satisfy a want . |
| producer | is a person or business that makes a good or provides a service . |
| consumer | is a buyer of a good or service. |
| budget | is a plan for deciding what to do with your money . |
| opportunity cost | is what you give up to get something else . |
| scarcity | is when there is not enough of what people , making the item more expensive . |
| natural resources | exist or grow in nature . |
| human resources | are people who work to produce goods and services . |
| capital resources | are the tools , buildings and machinery used to produce goods or provide services. |
| specialization | is when producers focus on one good or service. |
| interdependence | is when people depend on others to provide goods and services . |
| supply | is the amount of goods which are produced . |
| demand | is the amount of people who want to buy the goods . |
| savings | is money you set aside for future needs. |
| investment | is when you buy stock in a company . |
| stock | is apart of a company that investors buy . |
| profit | is the extra money a business makes after their expenses. |
| loan | is money you borrow from a bank or other business |
| interest | is the extra money you pay when you take a loan . |
| transporation | to carry products to consumers . |
| communication | to connect with consumers. |
