Goods- products made or grown

Services- work someone does for someone else

Increase- more
Decrease- less
Source- not enough to meet demand
Available- enough to meet demand
Supply- amount of a product or resource
Demand- consumer interest and willingness to pay for a product or resource
Revenue- the amount of money that someone pays for a good or service
Expenses- the amount of money that it costs to make the good or do the service
Profit- the money left over after all expenses are paid
Loss- the money that was lost after expenses were paid and the revenue was taken in
Needs- things that a person must have in order to live
Wants- things that are not necessary in order for a person to live
Producer- person who makes a product or sells a service
Consumer- person who buys a product or service
Natural Resources- things people use that come from nature
Economic Resources- things people use that are man made