Economics Vocabulary

Match it! Select the correct answer from the pull down...Good luck!

ACTIONS OR ACTIVITIES performed by people to satisfy economic wants

Individual people focus on producing a few things or one thing instead of making everything they want by themselves. They then trade for other goods and services they want or need.

You want to make cookies and bake a cake, but you only have enough flour to do one of those things, so you have to make a choice. This is an example of...

The PERSON who cuts your hair at the hair salon is a...

PEOPLE doing physical or mental work TO PRODUCE goods or services

Gifts of NATURE that can be USED TO PRODUCE goods or services

A hammer is a...

Things MADE BY PEOPLE AND USED TO PRODUCE other goods and services