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Grade 3 Social Studies: Unit 2 Student Vocabulary

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0. opportunity cost
1. improvements
2. specialize
3. goods
4. breakthroughs
5. resources
6. equipment
7. advertisement
8. product
9. limited resources
10. production
11. consumer
12. economic problems
13. producer
14. scarcity
15. phonograph

0. depending on someone else for goods or services
1. occurs when people can’t get everything they want
2. the act of seeing or finding out something for the first time
3. goods made by people and used to produce other goods
4. a number of things from which to choose
5. things that people make or grow that satisfy economic wants
6. to trade goods for other goods without using money
7. people doing physical or mental work to produce goods
8. actions (jobs) that people do for each other
9. a good or service made with resources
10. a person who makes or grows something
11. special materials or tools that help someone do a job
12. information that a producer provides about products and ser
13. money that people earn for their work
14. do only one kind of job in the production of a good or services
15. not having enough resources to produce all the ...