5. Economics Word Scramble
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| Question | Answer |
| Economics | The study of choice making concerning spending, producing, and saving; MONEY MATTERS |
| Scarcity | Not as many goods available as people would like |
| Goods | Things made by people or found in nature |
| Services | Work that does not result in something that you can touch or hold |
| Choice | A decision about something |
| Consumer | One who buys |
| Supply | Amount of something, and the willingness or ability to sell certain goods or services |
| Needs | Something that is necessary for humans to live a healthy life |
| Competition | Rivalry or challenge between businesses |
| Profit | The EXTRA money a business keeps AFTER paying its costs |
| Interdependence | The dependence on others for goods or services. At least two parties relying on each other |
| Raw Material | Natural resources from which useful things can be produced |
| Renewable Resources | A natural resource which can be replaces by man or nature (tree, water) |
| Non-Renewable Resources | A natural resource which cannot be replaced (oil, coal) |
| Demand | The willingness to buy certain goods or services |
| Price | The amount that a good or service costs |
| Import | To bring something INTO the country |
| Export | To send something OUT of the country |
| Wages | Payment received for work or services (usually based on an hourly payment) |
| Natural Resource | Things that come from the Earth |
| Tariff | A tax on imported goods |
| Income | The amount of money one earns from his/her job |
Created by:
cregan05
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