Vocabulary
What is a plan for using money?
Budget
Who is someone who buys goods or services?
Consumer
I chop down trees.
Producer
What are the three types of resources?
Natural, capital, human
What were Adam and Eve put on the Earth to do?
Work
What is the cost of a good or service?
Price
What do we call all the goods and services producers offer?
Supply
I sell candy
Producer
Car
Capital resource
Why are there sometimes problems with work?
The Fall
What is having a limited amount of something?
Scarcity
What is the fun being given up when you make the other choice?
Opportunity Cost
What happens when producers charge less for goods?
Consumers buy more
Farmer
Human resource
Why should Christians work hard?
It pleases God
What do we call all the goods and services consumers buy?
Demand
A group of workers who make goods or services
A business
What happens when producers charge more for goods?
Consumers buy less
Lake
Natural resource
How might people displease God with their work?
By being lazy, lying, or greedy
What is working at jobs that require special abilities
Specialization
Why do people like online shopping?
You do not have to leave your house, you can get exactly what you want
How do producers and consumers help each other?
Producers provide services or goods and consumers pay the money to the producers.
Lumber
Natural resource
It makes prices fair