a picture or symbol businesses use to advertise their company
What is a logo
100
The amount of money left after paying all your expenses
What is profit
100
My sister Sara wants to buy either a rabbit or a bike. She buys a rabbit. What is her opportunity cost?
What is the bike
200
Things that people make or use to satisfy needs and wants
What are goods
200
Goods made by people to produce other goods and services
What are capital resources
200
a phrase that is located with the product
What is a slogan
200
Refers to jobs that are centered on providing services that benefit others
What is the service industry
200
The boy, whose name was Andy, answered: “We’ve saved up all our money and today we are going to the toy store! My sister Sara wants to buy either a rabbit or a bike and I want to buy either a basketball net or a skateboard”.
The two children in this example would be known in economics as...
What are consumers
300
Activities that satisfy needs and wants
What are services
300
Production of goods and services in any economic system involves these three types of productive resources
What are natural, human, and capital resources
300
a catchy phrase that is sung along with the product
What is a jingle
300
something coming into a country from other countries
What are imports
300
The boy and girl went to the store and tried to make their decisions. The toy store owner waited patiently. The toy store would be known as the...
What is the producer
400
How much customers want a good or service
What is demand
400
People working to produce goods and services
What are human resources
400
the amount a store pays for something (ex: electricity, advertising)
What are expenses
400
to sell goods to people in another country
What are exports
400
Andy had $65.00 to spend at the toy store. The basketball net cost $50.00, so he had to buy that instead of the skateboard, which cost $75.00.
What is the skateboard
500
All the producing, selling, and buying that people do
What is economy
500
something you use to make things
What are resources
500
The act or practice of calling public attention to one’s product or service
What is advertising
500
world market
What is the global economy
500
Diana asked me if I would like my vanilla ice cream in a cup or a cone. I asked for a cone. Diana said I was lucky because there was only one more cone available. The little boy behind me in line wailed, “I wanted my ice cream in a cone!” I told Diana that he could have the last cone, and that I would have mine in a dish with chocolate syrup. What is this an example of?