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Social Studies Economic Vocabulary

AB
ConsumerA person who buys and uses up goods and services.
Goodsis something you use or consume like food or CDs.
ServiceSomething someone does for you
ResourcesSomething that can be used.
MarketsPlaces where producers and consumers engage in the exchange of goods and services for money or barter.
PriceThe cost a consumer must pay to purchase a good or service from a producer.
Checking Accountaccount where you can withdraw funds by writing a check.
Savings AccountAccount where money is kept, so that it can grow. The bank pays you interest.
Loanmoney borrowed that is usually repaid with additional interest charges.
Entrepreneuris someone who sets up a business and takes a financial risk in hopes to make a profit


Woodstock, GA

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