VOCABULARY -A
OPPORTUNITY COST
VOCABULARY -B
WILD CARD
VOCABULARY -C
100
when the amount of money a person or company spends is more than they receive or take in
What is a loss
100
Ania went to the store to get a bag of hot fries, a strawberry Fanta, and a ring pop, instead she brought a bucket of popcorn, two hamburgers, a grape Fanta, three snickers, and a kit kat.
What is a bag of hot fries, a strawberry Fanta, and a ring pop
100
The positive gain from an investment or business after subtracting expenses
What is a profit
100
Syniah went to Sam's and brought a case of 36 bottled waters for $5.00. At school Syniah sells all 36 waters for $1.00 each. This is an example of which economic term?
What is a profit
100
Anyone who buys a good or service
What is consumer
200
The money that the government collects from individuals and businesses to pay for public goods and services
What is taxes
200
Mantravious has $30.00 and Johta has $40. They decide to put their money together and to purchase a hover board, monopoly game, an xbox one, a fishing pole, a set of drums, some Legos, and a swing set. When they get to Toys R Us they only have enough money for some candy and Legos.
What is hoverboard, monopoly game, xbox one, fishing pole, drum set, and swing set.
200
Something you can feel or any kind of merchandise
What is a good
200
Kelvin sold rubber band necklaces to his class mates an earned extra spending money. Kelvin is an example of what
What is entrepreneur
200
The amount of something available for use
What is supply
300
How much of a product or service is desired by buyers
What is demand
300
Kelvin and Haylee put their money together to go to the Wild Adventure, the movies, Six Flags, Bush Garden, Las Vegas, and White Waters during their winter break. The movie that Kelvin wanted to see was no longer playing so they did not go and Haylee was scared to get on a plane so they did not go to Las Vegas.
What is movies and Las Vegas
300
Anyone who makes or grows a good or performs a service
What is producer
300
On the way to the Target Dylan lost $10.00 He was going to buy $120.00 lamp for his mother and a shovel for his dad for $80. Dylan wanted to buy a football for himself for $20. Dylan had $70.00 since he did not want have enough money to get his parents gifts, he decided not to get himself anything and to save until he had more money.
What is a lamp, shovel, football
300
Any kind of work performed for others
What is a service
400
There is a limited supply of something
What is scarcity
400
Michai decided to sell his games. He invited his friends to come by and check out his games. Willie brought Call of Duty, Jayden brought Grand Theft Auto 5, Dylan brought NBA2K16, and Mantravious could not decide if he wanted to buy an old Super Mario or Super Mario Kart. Mantravious could not decide so he did not get anything. Michala brought Just Dance.
What is Super Mario and Super Mario Kart
400
The process of choosing one good or service over another
What is opportunity cost
400
Willie went to McDonalds to get a sausage biscuit. Willie only had $1.00. The menu said the sausage biscuit was $.99, but the cashier told Willie he owed $1.04 since he did not have enough money, Willie purchase a small water instead for $.25. This is an example of WHICH 2 ECONOMIC TERMS
What is taxes and opportunity cost (sausage biscuit)
400
When people depend on one another
What is interdependence
500
The study of making, buying, or selling of goods and services
What is economics
500
Shyteria, Ayana, Diamond, Bethaney, Carmen, Ma'Kayla, and Makiya wanted to buy concert tickets for Beyoncé, Chris Brown, Kendrick Lamar, Al Green, Willie Nelson, Prince, Ray J, 50 Cent, Jennifer Hudson, Ice Cube, New Edition, and Kevin Hart. Diamond and Makiya lost their money so Shyteria used her money to purchase their tickets for Ice Cube, Chris Brown, and Al Green
What is Beyoncé, Kendrick Lamar, Willie Nelson, Prince,50 cent, Jennifer Hudson, New Edition, Kevin Hart, and Ray J
500
When an individual or a company does one part of a task and relies on others to complete the other parts of the task
What is specialization
500
Mrs. Stanley took her favorite class 7A :) to Applebee's for lunch. Her total came up to $194.00, but since her class has 18 students the restaurant included the waiters tip of 15% in her total due to large party. What was the amount of the tip?
What is $29.10
500
A person who comes up with a product or service or a better way to produce one
What is an entrepreneur
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