Economics - studying how resources are used, made, and bought or exchanged, Good - something you buy , Service - an action someone does for someone else , Consumer - a person who buys a good or service , Producer - a person who makes goods , Needs - things we must have to stay alive , Wants - things we would like to have but do not need to survive , Supply - the amount of something available to consumers , Demand - how much consumers want something , Scarcity - not enough ,

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