Needs/Wants
Are video games, diamond rings, and television sets NEEDS or WANTS?
Wants
Anything someone may want or need
Goods
One who uses or buys items, goods, or products.
Consumer
WATER is what type of resource?
Natural
Are fruits and vegetables, houses, and clothes NEEDS or WANTS?
Needs
Something you can do for someone, that can be bought or sold.
A service
One who purchases an item
Consumer
A _________ is something found in nature that we find useful.
Natural resource
Are toilet paper and paper towels NEEDS or WANTS?
Needs
Good
One who creates or makes a good to sell
Producer
A JANITOR is what type of resource?
Human
If there is not enough of the things you NEED or WANT, that is called ___________.
Scarcity
Does a nail salon offer a good or a service?
Service
The exchange of goods and/or services
Trade
Capital
The production of a certain kind of good is called ________.
Specialization
Name a place that offers both GOODS and SERVICES?
A restaurant, the post office, car salesman, realtor
What is most used for trade?
Money
Any TOOL or FACTORY used to help make a good is a _________.
Capital resource