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Economics Vocabulary List

AB
customera buyer of a good or service
productionthe creation of value
moneysomething precious used for exchange
supplya number of something available
demandthe number of goods that buyers will take
self-interestregard for ones self or own advantage
resourcesproperty or goods that can be changed into money or used for production
laborpersonal productive activity for economic gain
businessa person or group of people who want to make money by doing something specific
economicsthe science of distribution and consumption of goods-the science of choices
profita gain in mone, sales receipts minus cost
barterto exchange goods with other people
importa good brought into a country from another country, to be sold
exporta good sent from one country to another to be sold
consumptionthe use of goods to satisfy needs


4th Grade
Towne Acres Elementary
TN

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