They are things that you can touch, such as cars, apples, and baseballs.
100
When do grapes become raisins?
After the grapes are picked, they are placed on clean paper trays. They dry in the sun for two to three weeks. Slowly they become raisins.
100
What is a barter?
It is when people exchange goods or services without using money.
200
What are needs? Give me three examples.
They are things that people must have to live.
Example: water, clothing, shelter, food
200
What is a producer? Name one example.
A producer is a person who makes or grows something.
Example: farmer
200
What is a factory? Name two examples that people can build in a factory
A factory is a building where people work to make goods.
Examples will vary.
200
What are the three kinds of resources people use to produce goods and services?
Human resource, capital resources, and natural resources
200
What is trade?
Trade is the buying and selling of goods and services.
300
What is a shelter? Give me two examples of shelter.
A shelter is something that protects or covers.
Examples: houses, buildings, apartments
300
What is income?
When people work, they usually earn money. That money is called income.
300
What are services? Name three types of services.
Services are activities that people do to help other people.
Examples: doctors, teachers, dogwalkers, etc.
300
What is scarcity?
It is when we don't have enough resources to produce all the goods and services we want.
300
True or false? People in countries around the world depend on trade to get the goods and wants they want.
True.
400
True or false? Everyone has wants and needs.
True.
400
What are two ways people can earn income?
Selling things or by working at a job
400
What is a savings account? Why do people use it?
A savings account is a service from banks. People put their money in a savings account instead of keeping their money at home.
400
What is a natural resource? Name three examples.
Natural resource are things that can be found outside.
Example: soil, water, sunshine
400
What does it mean to specialize?
It means when farmers choose to grow mainly one crop.
500
True or false? People do not have to make choices about what to buy.
False. If they use all their money to buy one thing, they cannot buy something else.
500
What is a way that someone can be both a producer and a consumer?
Answers may vary.
500
What is interest? Where can we find interest?
We can find it in the bank. Each month the bank adds a bit more money to people's saving account. This helps people have more money.
500
What are human and capital resources?
Human resources: people; they operate machine, sellers, take care of the business, producers
Capital: tools, machinery, buildings, and trucks
500
From Tuesday's Social Studies reading, what do farmers in the United States and farmers in Costa Rica specialize in growing?
Hint: US: begins with a letter "w"; Costa Rica: begins with a letter "b"