Vocabulary 1
To give money to a bank
deposit
When you go to the store and buy a pair of shoes, you are a:
a. producer
b. consumer
c. capital resource
b. consumer
A country's system of money
currency
Anything used to produce goods
D
Y
L
A
N
W
A
S
H
E
R
E
resource
a. lawnmowing
b. guitar lessons
c. bracelet
d. dog sitting
c. bracelet
Trading without using money
barter
Depending on others to produce things that you need
interdependence
A tree used to make paper is a:
a. human resource
b. capital resource
c. natural resource
c. natural resource
Not having enough of something
scarcity
opportunity cost
Which list shows only needs?
a. water, orange, sweatshirt
b. perfume, necklace, television
c. hamburger, shoes, lego set
a. water, orange, sweatshirt
Making one kind of good or service
Specialization
a. High demand and high supply
b. High demand and low supply
c. Low demand and low supply
d. Low demand and high supply
d. Low demand and high supply
How does advertising usually affect the demand for a product?
a. advertising usually makes the demand go up
b. advertising usually makes the demand go down
c. advertising doesn't change the demand for a product
a. advertising usually makes the demand go up
What happens when you borrow money from the bank?
a. The bank pays you interest
b. You pay the bank interest
c. You make a deposit in the bank
d. The bank has to pay someone else interest
b. You pay the bank interest
What is an import?
A good or service that is brought into a country from another country.
What is an export?
A good or service that is sent out from one country to another.
To take money out of the bank
Withdrawal
The bank pays you for using your money. The money the bank pays you is called _____________.
interest
People want money that is ________, which means it will not fall apart easily.
durable