We live in a Market Economy.
This is an economic system where there is competition and price is determined by supply and demand. (Hint the first word may remind you of a grocery store.)
What is a Market Economy?
These are the people who work for a company with specific skills and knowledge.
What is a companies Human Resources?
This machine uses the wind to create Energy.
What is a Wind Turbine?
These are the people that buy the and make the products.
What is a Consumer and a Producer?
This is a sale or a discount that a producer gives to customers.
What is an incentive?
This type of potential energy is the capacity for doing work based on an objects electrical charge.
What is Electric Energy?
When there are not enough ice cream and people want more.
What is scarcity?
These are minerals and items used from nature to produce a product.
What is Natural Resources?
This energy is stored up in a substances due to their chemical bonds. An example of this is energy stored in a matchstick.
What is Chemical Energy?
This is when the U.S gets products from China.
What is an import?
This is the money that is made after the producer has paid for all of her costs.
What is a profit?
This type of potential energy is from the particles inside an atom.
What is Nuclear Energy?
This is when the U.S. sends cars to Canada to be sold.
What is an Export?
A cashier is a form of this type of capital.
What is Human Capital?
This is type of circuit that two lights can operate separately.
What is a Parallel Circuit?