Goods and Services
Items you can see and use.
What are goods?
An example of this resource is trees, water, and oil.
What are natural resources?
This is an item you would like to have but can live without.
What is a want?
To get ready for something
What is prepare?
The price needed to get something.
What is cost?
Work that people do. Examples: cutting hair, fixing a car
What are services?
An example of this resource is a teacher, a doctor, and a farmer.
What are human resources?
A _________ of having someone fix your broken bike, is that you get to ride it again.
What is benefit?
An example of this is a job like teaching.
What is an occupation?
Items found in nature that people can use to make goods.
What are natural resources?
Walmart sells toys that are made in China and shipped to the U.S. What is this an example of?
What is import?
An example of this type of resource is scissors, hammers, and buckets.
What you have to give up in order to have something else.
What is opportunity cost
This is the effect of citizens believing in the value of a good education.
What is they will fund education (or give money).
Able to be trusted to do what is right.
What is responsible?
In Florida, farmers grow oranges and send them to other states to sell. This is an example of:
What is export?
An example of this is scientists improving a hand-powered dental drill to be powered by electricity.
What is technology?
Choosing between 2 items because you can't have both is called:
What is a trade-off?
What is invest?
Using science to solve problems and make things work better.
What is technology?
Early American settlers got their food and items they needed in this way.
What is they grew and made their food and clothes.
Both of these types of resources can be used to make goods and services.
What are capital and natural resources?
People have to make economic choices because of this.
There is not always enough money or resources to have and buy everything you want.
You can grow this by learning new skills, gaining knowledge, and experiences.
What is human capital?
To depend on or to trust someone or something
What is rely?