| A | B |
|---|
| economy | the way people make, buy, sell, and use things |
| goods | things people sell |
| services | work one person does for another |
| scarcity | a lack of goods or services |
| producer | a person who makes and sells goods |
| supply | the amount producers will make for a certain price |
| demand | the amount of something consumers are willing to buy for a certain price |
| consumer | someone whobuys goods |
| income | money people earn from work |
| budget | a plan for using money |
| currency | any kind of money people use |
| entrepreneur | a person wh takes risks or chance and starts a business |
| human resources | the skills, knowledge and hard work that people bring to t heir job |
| capital resources | things made by people that help workers make goods or provide services |
| natural resources | things found in nature that are useful to people |
| interdependent | depending on one another |
| trade | to exchange things with someone else |
| barter | to trade one item for another |
| tax | a fee citizens pay to the government |
| industry | all of the people and companies that sell similar good or services |
| import | to buy goods from other countries |
| export | to send goods to other countries |
| benefits | a gain or positive result |
| costs | a loss or negative result |
