Economy 3rd Grade Study Guide

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8 Terms

1
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Needs:

Things we must have to live (food, shelter)

2
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Wants:

Things that we like but do not need (toys, candy)

3
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Goods:

Items you can touch (clothes, books)

4
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Servcies:

Jobs people do for others (teacher, doctor)

5
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Consumers:

People who buy goods and services (costumer)

6
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Producers:

People who make or sell goods and services (sellers)

7
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Saving:

Keeping money for later

8
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Spending:

Using money to buy something now