Matching Pairs 6th Grade EconomicsOnline version MCPS - Grade 6 Economic Words. by Marny McGee 1 Market Economy 2 Supply 3 Scarcity 4 Natural Resources 5 Capital Resources 6 Interdependence 7 Money Currency 8 Mixed 9 Demand 10 Specialization 11 Human Resources 12 Economic Resources 13 Command Economy 14 Market Goods made and used to produce other goods and services. How much people want a good or service. A medium of exchange used to buy and sell resources, goods, or services that has a standardized value and can be stored for future use. The people who make up the workforce of an organization, business sector, or economy. People focus on producing a few things instead of making everything they want by themselves. The human, natural and capital resources people use to produce goods and services The government owns most businesses and makes most economic decisions The amount of a good or resource available. resources are limited A system in which individuals and businesses make most of the major decisions about production and distribution of goods and services A material source of wealth that is provided by nature and has economic value. A system in which economic decisions are made by individuals, businesses, and government. People, businesses, and nations depend on the goods and services of others to satisfy the wants they cannot satisfy on their own. Any place or system that allows buyers and sellers to exchange goods and services.
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