Michigan Economics -3rd Grade

the study of the buying, making, and selling of goods and services

______________ are people who use natural resources, human resources, and capital resources to make goods or provide services.

________________ are activities that satisfy people’s needs and wants.

_______________ resources are materials that come from nature.

______________ resources are people working to produce goods or provide services.

The good or service that you give up when you make an economic choice is called _____________________.

Two or more people depending on each other for goods and services is called __________________________.

Being an expert in one job, product, or service is called ___________________.

The choice between two goods or services is known as ___________________.

The term used when there is not enough of something to go around is __________________.