Economics Vocabulary

5. when there is not enough supply, but a great demand
8. extra money set aside "just in case"
10. the way you bring in income to buy goods and services
11. wealth supplied by nature, like soil, sunlight, timber, and water
12. people who make goods or provide services
13. people who use goods and services
17. someone who works to produce goods and services
18. to receive products from abroad, usually from foreign countries
19. the number of people that would like to buy a particular good or service
21. to ship merchandise abroad, particularly to foreign countries

1. things that people would like to have but don't need to survive
2. the amount of money a good or service costs
3. food, shelter, air, clothing, and water
4. the extra money left after a business pays all costs or production
6. a good that is made to help produce other goods
7. trading goods and services instead of using money
9. the money you earn
14. the quantity of a commodity (something of use) or service that is available
15. things people do for others
16. things people must have to live
20. money you spend