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17 terms

2nd grade economics

STUDY
PLAY
factory
a building where people produce goods
trade
means to buy, sell, or exchange goods
transportation
a way of moving good or people from place to place
barter
means to trade goods or services for other goods or services without using money
producer
someone who makes or grows something
consumer
someone who buys and uses goods
income
Money that people earn. You can put your income in a savings account at the bank.
scarcity
something that is hard to find or unavailable
taxes
Money collected from people by the government. This money also helps pay community workers.
goods
things people make or grow
services
jobs that people do to help others
wants
goods and services people can live without
needs
goods or services people cannot live without
banker
They help people take care of their money.
Barber
They provide a service to people by cutting hair.
policemen
They help keep people safe.
Community service workers
These are the people who get paid by the government with the taxes other people pay. Three examples are Nurses, policemen, and teachers.

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