| A | B |
|---|
| consumption | using goods and services. |
| marketplace | somewhere where buyer and sellers meet and do business. |
| distribution | how people get access to goods and services. |
| economics | science that deals with the production, distribution, and consumption of goods and services. |
| economize | use less or save. |
| goods | objects that can satisfy people's wants. |
| services | actions that help other people. |
| production | how goods are producted, or how services are performed. |
| seller | the person who makes the customer purchase their product. |
| buyer | the person who actually buys merchandise. |
| barter | trading of one thing for another. |
| wages | the total amount paid to persons for the monthly, yearly, lifetime. |
| salaries | the amount paid to persons when they perform labor. |
| taxes | money collected for the government on products. |
| public service | service done for public use. |
| private service | service done for private use. |
| medium of exchange | the exchange of value given between buyer and seller. |
| producer | someone who makes products for the marketplace. |
| customer | someone willing to buy goods and services. |
| demand | schedule of how much of a good or service consumers are willing and able to buy at all possible prices. |
