Vocabulary | Goods and Services | Consumers and Producers | Resources | Miscellaneous |
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What is scarcity?
Not having enough of something.
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What is a service?
Getting a haircut is an example of a _____________.
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What is a consumer?
When you go to the grocery store and buy a candy bar, you are a ________.
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What is a natural resource?
Flour is this type of resource.
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What is a high demand and low supply?
In July, a store is running low on pool toys. The supply and demand for pool toys is _____________.
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What is bartering?
Trading without using money.
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What are goods?
The following list is an example of ______________.
XBox, Jewelry, Chapter book |
What is a producer?
Fred sets up a lemonade stand in his yard. Fred is a ___________.
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What is a capital resource?
A bulldozer is this type of resource.
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What is the price will go down?
In November, the price of Halloween costumes will ______________.
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What is opportunity cost?
The thing that you give up when you buy something else.
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What is a service?
Blair took her car to the car wash. This is an example of a ________________.
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What is a producer?
Wilma earned $10 for babysitting her little sister. Wilma is a ______________.
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What is a human resource?
A baker is this type of resource.
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What is pay interest?
When you borrow money from the bank, the bank makes you _______________.
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What is currency?
A country's system of money.
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What is a service?
Ellie is starting a dog walking business. This is an example of _____________-.
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What is a consumer?
Pebbles is eating a granola bar for lunch. Pebbles is a _________________.
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What is a natural resource?
Butter is this type of resource.
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What is bartering?
Fred gave his candy bar to Wilma. Wilma gave Fred her orange. This is an example of ___________.
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What is a deposit?
To give money to a bank.
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What are goods?
Julie bought apples, oranges, and bananas at the store. These are examples of ___________.
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What is a consumer?
Bam Bam is playing a video game. Bam Bam is a ________________.
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What is a capital resource?
An oven is this type of resource.
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What is makes the demand go up?
Advertising affects the demand for a product by ________________.
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