Something people need to have to live such as air to breathe and food to eat is called a what?
What is a need.
100
Things that are made, manufactured, or grown like clothes, computers or fruit are known as what?
What are goods.
100
What is a plan for spending and saving money?
What is a budget.
100
What kind of taxes you pay based on how much money you make.
What is an Income Tax
100
Natural, Capital, and Human are considered what in our Economy?
What is Resources
200
You have been saving all of your allowance for months to buy a pony. Is a pony a want or a need?
What is a want.
200
Work that someone does for someone else is known as what? (for example, dog walking or a dentist)
What are services.
200
How do people earn money?
Most people earn money from their jobs such as making goods or selling services.
200
What kind of tax do citizens pay tax on items that they purchase
What is a Sales Tax.
200
Water is considered what kind of resource?
What is Natural Resource
300
A product that is not required for survival is called a what?
What is a want.
300
When supply is LOW and demand is HIGH the price will go...
What is UP.
300
Your third grade class gets a quarter in a jar every time they behave the entire day. They are planning on spending the money once the jar is full. Are they currently spending or saving the money?
What is saving the money.
300
What kind of tax is things like land, houses, cars, and boats
What is a Property Tax
300
Tools and Equipment are Considered what kind of resource?
What is Capital Resource
400
Do communities provide needs or wants?
What is needs. (Examples are hospitals or shelters)
400
When the supply is LOW and the demand is HIGH the price will go...
What is DOWN.
400
When you give money to people or groups, it is called what?
What is a donation.
400
What is it called when you give up when you decide to do something
What is a Benefit.
400
Fireman are considered what kind of Resource?
What is Human Resource.
500
Do commercials advertise wants or needs?
What is wants. Commercials advertise wants, such as toys, that are not needed for survival.
500
How do producers and consumers affect each other?
What is the supply and demand of the goods or services must meet what the consumer wants.
500
Should you buy the things you need first, or want first?
Buy the things you need first so that you can use them for survival.
500
The mailman delivers mail to your house every day so that you are able to read the mail that he sent to you. Is he a consumer or producer?
What is a producer.
500
My best friend and I both collect Pokémon cards. He has cards that I really want but I have nothing to trade him in return. If I have nothing to offer to take his cards, are we bartering?