| A | B |
|---|
| A person who purchases goods | Consumer |
| A person who supplies goods | Producer |
| Anything necessary for survival | Need |
| An "extra" that makes life better | Want |
| Used as a standard for exchange | Money |
| What, how, for who to produce | 3 basic economic questions |
| A person who studies economics | Economist |
| Allows us to pay for an item over time | Credit |
| Reliance among economic actors | Interdependence |
| a person who tries to start a new business | entrepreneur |
| forces people to use resources effectively | Scarcity |
| What economics is all about | Choices |
| when each worker is given a small # of tasks | Division of labor |
| The coolest teacher at Century | Mr. Baker, of course |
