Vocab Words
The rivalry between businesses selling similar products or services.
Competition
The New Deal program that gave young men jobs and led to the creation of our state and national parks.
The CCC
Sally uses her allowance to sell lemonade and make a profit.
Drew watches TikTok all night instead of doing his homework.
Sally
A payment made to an employee on a regular basis.
Wages
This happens when there is more supply than demand.
The Price Goes Down
These two smartphone companies with blue and green text bubbles compete with each other.
Apple and Android/Samsung
A financial result that can be positive or negative.
Economic Outcome
The 3 R’s of the New Deal.
Relief, Recovery, Reform
A bakery has a promotion for National Doughnut Day, leading to this economic outcome
More Sales/Money
Jordan works at a pet store and has a wage of $10 per hour. On Saturday, he worked for 4 hours. This is the total amount of money Jordan earned in wages that day.
$40
This happens when there is more demand than supply.
The Price Goes Up
Emma’s town has only one internet provider. Since no other companies offer internet service, the provider keeps raising prices, and the service isn’t very good. People have no choice but to pay the high prices.
What happens when there is no competition
A bakery is setting the price on their new cupcakes. Before they can determine their price, they add up the price of ingredients, employee wages, and rent.
Costs
This New Deal program paid states to create unskilled jobs for the unemployed.
FERA
This happened in 1929, which led to many Americans and businesses losing money they needed to survive.
Stock Market Crash
James works 40 hours a week at a restaurant and earns $12 per hour. Marco watches a neighbors children sometimes and gets paid after the 4th time. This person has a wage.
James
A new iPhone is announced. Demand for the new iPhone affects the old version of the smartphone this way.
Price and Demand is lower
The race to have the best device on the market benefits this population/group.
Consumers
This changes depending on how many people want the product (supply and demand)
Market Prices
The Agricultural Adjustment Act (AAA) asked farmers to destroy crops and livestock to help prices of goods increase, leading to this positive external benefit.
Farmer’s spent money on new equipment
Two companies race to produce the best smart speakers on the market. This vocab words leads to one of the companies unable to keep up and they go out of business.
Competition
This drove the prices of items down during the Great Depression, resulting in the loss of jobs because companies could not afford their employees’ wages.
Deflation
Supply chain issues due to this pandemic in 2020 lead to a toilet paper shortage which resulted in empty shelves and high prices
Covid-19
As cellphones became smartphones and turned into computers that fit into our pockets, this well known phone manufacture slowly faded.
Nokia
A company hosts a beach clean up project in order to get more involved in their community. After the beach cleanup, the sea turtle population in the area grows.
External Benefits
A negative external benefit of the New Deal.
Can Vary - Use Discretion - destroyed crops/livestock while people starved,segregation & exclusion of some programs, put the country in debt, big government
A company wants to create a new video game. They need to pay for designing, programming, and testing the game, plus the making physical copies and marketing it. These expenses are added up before they can start selling the game or decide the price to the game at.
Costs
FDR’s New Deal was focused around the three “R”s. This “R”’s goal was to help relieve the American Population from poverty.
Relief
This New Deal program sought to fix overproduction by lowering the supply of agricultural goods and increase the selling price of things such as meat and grain.
The AAA
The three areas that companies compete in.
Price, Feature, Quality