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Economics Vocabulary

  •  English    18     Public
    Vocabulary for upcoming Quiz
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  • Which word means "things that are made or grown - for example clothes, cars, and food"
    Goods
  •  15
  • Which word means "work that someone does for someone else - for example, doctors and dentists"
    services
  •  15
  • Which word means "someone who makes or provides goods or services - for example a farmer or a barber"
    Producer
  •  15
  • Which word means "someone who uses or buys goods and services - for example shopping and haircut"
    consumer
  •  15
  • Which word means "the amount of goods or services available to the customer"
    supply
  •  15
  • Which word means "how much customers want a good or service"
    demand
  •  15
  • Which word means "a very low supply due to a disaster such as a freeze, fire, hurricane, or tornado"
    scarcity
  •  15
  • Which word means "when there is too much of a product or service available"
    surplus
  •  15
  • Which word means "equipment and machines that help workers make goods and provide services"
    capital resources
  •  15
  • Which word means "the workers needed to make and sell goods and services"
    human resources
  •  15
  • Which word means "the raw materials that come from the earth - the raw materials that are not man made"
    natural resources
  •  15
  • Which word means "when workers add one part to a product as it passes on a moving belt"
    assembly line
  •  15
  • Which word means "a building where workers make goods"
    factory
  •  15
  • Which word means "the money needed to run a business"
    overhead
  •  15
  • Which word means "the money workers are paid - which is part of the overhead"
    wages
  •  15
  • Which word means "the amount of money that is left over after the overhead has been paid"
    profit
  •  15