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Social Studies
Random
100
Something that you can pay for, but no necessarily touch.
What is Services?
100
Something you can touch, that you can pay for and buy.
What is Goods?
100
A person who uses goods and services.
What is a consumer?
100
Getting goods from where they were produced to where they are to be sold.
What is distribution?
100
The money that comes in; the money you earn.
What is Income?
200
An economic system in which people can start and run their own businesses with little control by the government.
What is free enterprise?
200
Someone who starts a new business.
What is an Entrepreneur?
200
Resources found in nature.
What is a Natural Resource?
200
A financial institution that helps people save money and helps them deal with scarcity/limited resources.
What is a bank?
200
Breaking a job into smaller parts that people do better at.
What is specialization?
300
When you dont make enough money to cover the cost of production.
What is a Loss?
300
The amount of a product or service that is available for sale.
What is the supply?
300
The money that you earn from a job.
What is your wage or salary?
300
Anything above and beyond the things you need to survive.
What is a Want?
300
Being dependent on other people/businesses in order to get a job done.
What is interdependence?
400
The way people of a state, or country use resources to meet their needs.
What is Economy?
400
The thing consumers give up to get something else.
What is Opportunity Cost?
400
The amount of money or capital resources it takes to produce a good.
What is the Cost?
400
Things that people use to meet their wants and needs.
What is a resource?
400
Money that the government uses to pay for the programs and services it provides.
What are taxes?
500
The money left over after all business costs have been paid.
What is profit?
500
The equipment, money and machinery needed to make a product.
What is Capital Resources?
500
Something that you have to have to survive in our culture.
What is a need?
500
When there is not enough of something.
What is Scarcity?
500
The people, their ideas, needed to make a product or provide a service.
What is Human Resources?
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