Economics
Allocation
Profit
Trade
Market
100
What is Economics?

branch of knowledge concerned with productivity and consumption

100
What does allocation mean?
Allocation is the process of distribution
100
What is profit?
a financial gain
100
What is trade?
The action of buying or selling goods.
100
What is a market?

the people that group others together to purchase and sell

200
When is economics used? Once a day, Once a Month, All the time?
ALL OF THE TIME!
200
What is an example of allocation?
A girl handing out her lemonade at a stand
200
In what ways to people receive a profit?
Money, Status, Resources, popularity, etc.
200
Name 3 specific goods that you can trade
Cotton, Coffee Beans, Wheat
200
Why are their different markets?
Based, on what you sell and how much you sell it for, and who you are selling your product to, can cause you to be in a different market.
300
What are the two main parts concerned with Economics?
Production and Consumption
300
Allocation is a way that ______ can hand out their goods.
Producers
300
How to people receive a profit?
Either by giving time or service to another person.
300
What kinds of things can you trade?
Goods, services, products, resources
300
What causes a market to be grouped together?
mainly the types of products you are selling and how they are produced
400
How can you make sure you have a good economy?
Manage your available reassures well
400
What is another word for distributing?
Allocating
400
Positive profit is when you receive a ________ number of goods.
positive
400
What are the two parts of trade
Buying and selling
400
What is a stand out person in a market called?
An entrepreneur
500
What type of economy do you think the United States has
Fairly good and stable economy compared to others.
500
Where would one allocate their goods from?
A factory.
500
Negative profit is when you receive _______ than the budgeted number a company was looking for.
Less
500
What is the first step in trading
Having something to the other person that you want to buy from.
500
What does an entrepreneur bring to the market
A new and innovative idea that can spark any market level
M
e
n
u