True or False?
Show Me the Money!
Vocabulary
Goods or Services?
Resources
100

Needs are more important than wants

What is true?

100

A building where people's money is kept

What is a bank?

100
Making, buying, or selling something that people need or want
What is economics?
100
Things you can buy
What is a good?
100

Sun is an example of this type of resource

What is a natural resource?

200

Consumers are people who make goods and sell them

What is false?

200

Money you put aside to keep or spend later

What is savings?

200

Lack of resources

What is scarcity?

200

When someone does something for you

What is a service?

200
A hammer is an example of this type of resource
What is a capital resource?
300
Producers and consumers rely on each other in the economy
What is true?
300

Money earned

What is income?

300

A person's focus on one product or service

What is specialization?

300

When a barber cuts your hair

What is a service?

300
A fireman is an example of this type of resource
What is a human resource?
400
The term 'budget' comes from the French word 'bougette' which meant 'little bag'
What is true?
400
Exchanging goods and services without using money
What is barter?
400

When two people or companies depend on each other to be successful

What is interdependence?

400
Video games, dolls, and candy are examples
What is a good?
400

Tools, machines, and factories used to produce goods

What is a capital resource?

500
When there is a large demand for a good, the supply goes down
What is false?
500
Buying something and promising to pay for it later
What is credit?
500
When faced with an economic choice, this is the thing you give up
What is opportunity cost?
500
Tim has a lemonade stand. By producing the lemonade, Tim is providing this
What is a service?
500
Materials or substances that occur in nature and can be used for economic gain
What is a natural resource?
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