Services are activities that satisfy people's wants. People who use goods and services are called Consumers . People who use resources to make goods and provide services are called Producers . People are both consumers and producers. Interdependence is when people need one another.
Resources are limited or scarce .
When resources are used up or consumed , they cannot be used to produce other goods or services. Money is a medium of exchange or trade . People save their money when they put it away to spend later. A Direct Democracy is when people vote to make their own rules. A Representative Democracy is when people elect a smaller group to make rules for everyone.