ECONOMICS VOCABULARY

AN ITEM SOLD FOR PROFIT.

SOMETHING YOU WOULD LIKE TO HAVE, BUT YOU DON'T HAVE TO HAVE TO SURVIVE; NOT A NECESSITY.

A CHOICE GIVEN UP TO GET THE CHOICE YOU WANT. (ALWAYS THE SECOND CHOICE)

MADE BY NATURE.

PEOPLE WHO DO JOBS OR SERVICES FOR OTHERS.

TOOLS MADE BY PEOPLE TO DO A JOB.

SOMETHING YOU HAVE TO HAVE TO SURVIVE.

A JOB DONE OR SOMEONE.

WHERE BUSINESSES COMPETE WITH EACH OTHER TO SELL THEIR GOODS AND SERVICES.

A THING THAT MOTIVATES OR ENCOURAGES ONE TO DO SOMETHING.