Resources
These are raw materials found in nature, like water and wood.
What are natural resources?
Something you must have to survive.
What is a need?
Trading goods without using money.
What is barter?
A toy you can buy is a…
What is a good?
When there is not enough of something.
What is scarcity?
People at work are called this kind of resource.
What are human resources?
Something you would like to have but do not need.
What is a want?
Coins and bills are called this.
What is money?
A haircut is a…
What is a service?
Scarcity causes people to make these.
What are choices?
Machines, tools, and computers are examples of these.
What are capital resources?
Is a toy a need or a want?
What is a want?
Which is easier for buying things today: barter or money?
What is money?
Something you can touch and use is called this.
What is a good?
If there are only 2 cookies for 4 students, this is an example of…
What is scarcity?
Name one natural resource.
Examples: water, soil, coal, sunlight, wood
Is food a need or a want?
What is a need?
Why is money easier than barter?
Because it is faster and does not require matching trades.
Work done for someone else is called this.
What is a service?
If you can only buy one toy, you must make a…
What is a choice?
A hammer is an example of what kind of resource?
What is a capital resource?
Give one example of a want.
Examples: video game, candy, fancy shoes, toy
If I trade apples for bread, I am using this.
What is barter?
A teacher provides this.
What is a service?
Why do people make choices?
Because resources are limited.