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2nd Grade Economic Terms
Economic Terms for Second Graders (2nd)
7
Social Studies
Not Applicable
06/04/2017
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Term
consumer
 Definition
a person who buys goods and services
Term
producer
 Definition
a person who sells goods and services
Term
opportunity costs
 Definition
when making a choice between two things you choose to give up on one in order to get the other
Term
goods
 Definition
something that is made or grown
Term
services
 Definition
something someone does for someone
Term
resources
 Definition
useful things including natural, capital and human resources
Term
barter
 Definition
to trade items without the use of money
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