Goods and Services
Items you can see, like pencils or cars
Goods
This type of resource is found in nature and includes trees, water, and soil
Natural resource
The makers of goods
Producers
When you give up one thing for another
Trade-off
Something you must have in order to live
Need
Work that people do, such as fixing a car or cutting your hair
Services
This type of resource is a human-made item used to make other goods or provide services
Capital resource
The people who buy products
Consumers
The price needed to get something else
Cost
Something you would like to have but do not need
Want
Things that are made near where they are sold
Local goods
This type of resource includes people's talents and skills
Human resource
To bring in goods from another country
Import
What you have to give up to have something else
Opportunity cost
Food, shelter, water, clothing
Needs
Service
The machine used to milk a cow
Capital resource
To send goods out to another country
Export
To spend time and effort now in hopes of a future reward
Invest
A squishmallow, a Stanley cup, or a new football
Wants