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Economics Vocabulary List Feb. 14-18

AB
customera buyer of a good or service
productionthe creation of value; making something
moneysomething precious used for exchange
supplya number of something available
demandthe number of goods that buyers will take
self-interestregard for one's self or own advantage
resourcesproperty or goods that can be changed into money or used for production
laborpersonal productive activity for economic gain; to work
businessa person or group of people who want to make money by doing something specific
economicsscience of distribution and consumption of goods
profita gain in money; sales minus cost
barterto exchange or trade goods or services
importa good brought in from another country
exporta good sent out to another country
consumptionthe use of goods to satisfy needs


4th Grade
Towne Acres Elementary
TN

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