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Economics
Vocabulary words used in social studies lessons.
17
Other
1st Grade
06/03/2008

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Cards

Term

choices

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Definition
knowing what you want and what you have to give up
Term

cost

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Definition
the amount on money or resources to buy or make something
Term

wants

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Definition
things that people want to have but do not need to stay alive
Term

[image]shelter 

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Definition
home, something that protects and covers.
Term

money/currency

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Definition
what we use to buy things we need, a method of exchange, electronic money
Term

service

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Definition

an activity that someone does to help

another person, maybe in exchange for money

Term

trade

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Definition
exchanging one thing for another
Term

buyer

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Definition
a person who buys things
Term

seller

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Definition
a person who offers thing to someone else in exchange for money
Term

goods

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Definition
things that can be bought and sold
Term

product

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Definition
things that are valued and sold
Term

save

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Definition
put away and keep
Term

spend

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Definition
to use up or trade
Term

limited/scarce

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Definition
not having enough of something
Term

resources

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Definition
anything that people can use
Term

market

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Definition
a place where people buy and sell goods
Term

source

 

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Definition
where something comes from
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