Goods - A physical Item that satisfies a want or need, Services - An act someone provides to satisfy a want or need., Needs - Something that is necessary for survival (e.g. food, water, shelter)., Wants - A good or service that is desired to provide satisfaction, but not necessary for survival., Resources - The 4 factors of production used to produce goods and services: land, labour, capital and enterprise., Salary - A fixed income paid by an employer to an employee over a year., Wage - A fixed income paid regularly to an employee, normally fortnightly or weekly., Hourly Rate - The amount of money that is charged, paid, or earned for every hour worked., Volunteering - To willingly give up time for a common good in a community and without financial gain., Community - A group of people with a shared interest or characteristic., Material Value - It holds ”real“ or tangible value, often monetary., Non-Material Value - Intangible benefits or qualities that cannot be measured in terms of money or physical possession.,

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