Economy

5. Industry: Businesses that turn raw materials into finished products
7. Not enough to go around; limited supply
8. The workers and the effort they provide
9. Equilibrium: The “just right” price where the amount for sale matches what people want
10. The total value of goods and services made in a place in a set time
12. Industry: Businesses that earn money by doing work for customers
13. Work people do for others that you can’t hold or touch
14. of Living: How comfortable life is based on money, goods, and needs being met
19. How people and businesses make, buy, and sell things in a place
21. How much people want to buy something
22. More than needed; extra supply left over
23. Money and tools a business uses to get work done
24. The place or area where buyers and sellers trade and compete

1. Industry: Businesses that grow or collect resources from nature
2. Nation: A country still building its economy, with lower incomes overall
3. A group of businesses that do the same kind of work or sell similar products
4. Someone who starts a business and takes a chance to earn money
6. Indicators: Numbers that help show how strong an economy is
11. Domestic Product: The total value of goods and services made in a place in a set time
14. How much of something is available to buy
15. Nation: A country with higher incomes and a stronger, more advanced economy
16. Physical products you can touch and buy
17. Living with too little money to meet basic needs
18. Natural resources from Earth used to make products
20. per capita: GDP divided by the population; output per person