Making a Product
Inventing
How a Business Works
Free Enterprise
The World Marketplace
100
He sold more cars at a lower price by using an assembly line.
Who is Henry Ford?
100
This is the use of new inventions in everyday life
What is TECHNOLOGY?
100
This means "to do just one kind of work or to sell just one type of product".
What is to SPECIALIZE?
100
These are the goods and services offered by a business
What is SUPPLY?
100
This is a kind of technology that lets people who are far apart share information instantly
What is a COMMUNICATION LINK?
200
A factory setup in which each worker adds one part to a product as it passes on a moving belt
What is an ASSEMBLY LINE
200
Because of the invention of this, people were able to see what other parts of the world looked like
What is a DAGUERREOTYPE?
200
"Pop-Ums Toaster Treats are high in Vitamins A and C!" is an example of what?
What is a FACT?
200
This will be low if people decide to save their money rather than spend it
What is DEMAND?
200
When countries bring in to sell products and resources from other countries
What is IMPORT?
300
The information from this allows you to learn where products come from
What is a PRODUCT MAP?
300
He introduced people around the world to photography when he found a way to make images stay on paper.
Who is Louise Daguerre?
300
This is the amount of money that is left over after all the costs of running a business have been paid
What is PROFIT?
300
This allows people to decide what goods or services they will make or sell
What is FREE ENTERPRISE?
300
These countries depend on each other for the goods and services they exchange.
What are INTERDEPENDENT countries?
400
This is someone who makes and sells a product
What is a PRODUCER?
400
These are new ideas and products that begin with a problem that needs to be solved.
What are INNOVATIONS?
400
"Nuggety Nuggets is the most amazingly tasty cereal EVER!" is an example of what?
What is an OPINION?
400
This is when there is very little supply of something
What is SCARCITY?
400
The exchange of one thing for another
What is TRADE?
500
These are the kinds of resources Henry Ford used to make automobiles
What are natural resources (raw materials), human resources, and capital resources?
500
This man made life easier for farmworkers when he invented the reaper.
Who is Cyrus McCormick?
500
When shops try to offer the best price or services in an effort to get more customers
What is COMPETITION?
500
If the demand for a product is great but this is low, then the price of the product will be very high.
What is SUPPLY?
500
In international trade, this has made it easier and faster for people to buy and sell goods.
What is TECHNOLOGY?
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