Meeting our Needs
Is fixing a leaking pipe a good or a service?
A service
They have one type of job
What is a consumer?
A person who buys a product
to give
Who brought in light up roses for Valentine's Day?
Janki
Which of the following are natural resources?
a. water
b. rubber
c. glass
a. water
Name one NH company.
What is the picture on the NH quarter?
The Old Man on the Mountain
Define consumer
A person who buys things
What is Tucker's favorite color?
teal
What is economics?
The study of how people produce, sell and buy goods and services.
What is it called when we buy cars from Japan and toys from China?
World Trade
choosing not to buy one thing so you will have enough money to buy something else
Define budgets
What is our chapter book read aloud called?
Auggie and Me
What is the difference between goods and services?
Goods are things that are used
Services are things that someone does for another person
Canada, China and Mexico
Where do people sometimes keep their money (not at home)?
In a bank
Define tourism.
The industry of making money from people who visit
180
What are the 4 factors of production.
2. capital resources
3. human resources
4. entrepeneurs
How does tourism help our economy?
It helps businesses and workers in our state earn money. People come to NH to the beaches, mountains, museums, parts, restaurants, hotels, etc.
Name the 5 characteristics of money (you don't need to copy everything, just summarize)
1. must be easy to carry
2. must break into parts
3. must be able to use over and over
4. everyone using it must agree it has value
5. must be somewhat difficult to get
Define profit.
The money a business has left after all expenses are paid.
What college did Miss Stew go to?>
Salve Regina University