Citizen Rights
The word for the place where people live, work, trade, and share
What is community?
The three types of resources used to produce goods and services
human, natural, and capital
A fee received for the use of money
What is interest?
Theo doesn’t really like playing the guitar, but everyone knows he has developed an ability for it. This is another word for his ability
What is skill?
The money that’s left over after a business pays its costs
What is profit?
Elijah enjoys his right to use public goods and services. This is the responsibility that goes with that right.
What is to pay taxes?
Where people and businesses come together to buy and sell goods, services, and resources
Markets
Before Simon deposits his paycheck at the bank, he must do this on the back of the check
What is endorse it?
This word from the four career types is missing from the following list: People, Things, Ideas,....
What is data?
Rochelle sells lemonade at her neighborhood lemonade stand. Does she sell a good or a service?
What is a good?
Before Sally can vote, she must do this.
What is register to vote?
The concept tells us that people can’t have everything that they want
Scarcity
Liam deposited $5.00 in the bank. He then wrote a check for $4.00. He records these transactions here.
What is a money tracker or check log?
Teresa is skilled at knowing how to act as an employee. She dresses appropriately, treats customers nicely, and is punctual. What these important skills are called
What are soft skills?
A business takes out a loan at a bank and promises to repay the loan, the business must sign this.
What is a promissory note?
The three T’s of philanthropy
Time, Treasure, and Talent
Someone who is an innovator, recognizes opportunities, and organizes resources to make a product
What is an entrepreneur?
The money gets deducted from this account when you make a purchase with a debit card.
What is your checking account or banking account?
When applicants seek a job, they write this to spark an employer’s interest
What is resume?
Businesses need customers. They need this to promote their products to customers
What is advertise?
The term for things owned by all people for everyone’s use, for example, a city park
What are public goods and services?
The freedom that Tom enjoys when he buys a new tractor to use on his farm
What is the freedom to own property (freedom to buy goods and services is also acceptable)?
Shane wants cash back from his deposit. He must do this on his deposit ticket that is different from when he doesn’t want cash back
What is write his signature?
The term for the amount an employee earns before taxes are deducted
What is gross pay?
the expenses for rent, utilities, supplies, advertising, and equipment for a business
What are operating costs?