Vocabulary 1
Vocabulary 2
Trade
Trade 2
Resources
100
What is the amount that consumers are willing to buy for a certain price?
Demand
100
What are the skills, knowledge, and hard work that people bring to their jobs?
Human Resources
100
Give an example of an import
Something the United States buys from another Country
100
Give an example of an export.
Something the United States sells to another country. Ex. SELLING sugar to Mexico
100
Give an example of a natural resource
Gold, trees, water, dirt, cotton, etc.
200
What is the amount that producers will make for a certain price?
Supply
200
What are the things make by people that help workers make products or provide services?
Capital resources
200
What is all of the people and companies that sell similar goods or services? Example: Everyone who makes candy is part of the Candy ______________
Industry
200
If more than enough of something is produced will the price go up or down?
Down
200
Give one example of a capital resource.
A grill, a crane, screwdriver, wrench, a spatula, etc.
300
What word means dependent on each other?
Interdependent
300
What is a person who takes a risk and starts a business called?
An entrepreneur
300
What does it mean to send goods or services to another country for trade or sale?
Exporting
300
If the price of apples go up will people still buy apples or will most people switch to buying oranges or bananas?
Oranges and bananas
300
Give an example of a human resource
A designer, a salesperson, a factory worker, someone who cuts hair, etc
400
What is the word for someone who buys the goods or services sold by a producer?
Consumer
400
What is a team of workers who make a product by each doing one step called?
An assembly line
400
What does it mean when you buy goods or services from other countries?
Importing
400
If something doesn't happen very often (like the Superbowl, it happens once a year) will the price be high or low?
High
400
Give an example of a producer
Someone who works at a factory, someone who makes burgers, someone who milks cows, etc.
500
What is someone who makes or sells goods?
Producer
500
What is a diagram that shows how something is done?
A flow chart
500
Where is a place where goods may be bought or sold?
Marketplace
500
Give an example of Interdependence
People in Florida buying eggs from Georgia and people in Georgia buying sugar from Florida.
500
If there is not a lot of corn grown one year, will the price go up or down?
Up
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