Economics terms

5. a person who buys goods and services to satisfy their needs and wants.
6. Reasons for working including anything related to financial gain.
9. service producers, use their skills, knowledge and effort to provide a service to consumers.
12. Someone who sees an opportunity for a new idea and takes on the risk of starting their own business to make a profit from the
14. Australia is considered an ‘__________ population’. This means there are more older people than younger people.
15. form of unearned income provided by the government for people who have passed the retirement age.
17. Being in short supply.
18. The study of how people and society use resources to satisfy their needs and wants.
20. Owning your own and being your own boss.
21. period of life when a person has reached a certain age when they can no longer work fulltime or choose not to work.
22. Things or items that are not essential to keeping us alive, but we would still like to have because they help make our life easier or more enjoyable.

1. a person or group (such as a business or company) that makes a good or service in order to sell it.
2. Work for less than 38 hours a week.
3. Work for more than 38 hours a week.
4. Reasons for working including anything related to non-financial gain.
7. industrial producers, mainly manufacture goods in factories.
8. We have limited resources to meet unlimited needs and wants.
10. Physical or mental effort directed to doing or making something.
11. compulsory way of saving for retirement.
13. Things or items that are essential to keeping us alive.
16. the oldest producers in any economy. They produce food.
19. Large companies look for investors that will give them money in exchange for a ________ of the company.