Goods and Services
Items you can see, like pencils or cars.
A. Goods
B. Services
C. Producers
D. Consumers
What are goods?
The resources found in nature that people use.
A. Human Resources
B. Capital Resources
C. Natural Resources
D. Local Resources
What are natural resources?
To give up one thing for another.
A. Opportunity Cost
B. Trade-Off
C. Option
D. Need
What is a trade-off?
This is one way you can invest in your future.
A. Going to the movies
B. Buying what you want
C. Learning good study habits
D. Playing video games and not doing homework
What is learning good study habits?
The work that people do, such as fixing a car or cutting your hair.
A. Import
B. Goods
C. Services
D. Producers
What are services?
These resources are human-made items used to make other goods or provide services.
A. Capital Resources
B. Human Resources
C. Natural Resources
D. Local Resources
What are capital resources.
This is what you have to give up to get something else.
A. Economic Choice
B. Trade-Off
C. Want
D. Opportunity Cost
What is opportunity cost.
This is your skills, knowledge and experience.
A. Investment
B. Human Capital
C. Occupation
D. Human Resources
What is human capital?
These are the 3 reasons why people should buy local products.
These are a person's talents or skills.
A. Consumer Resources
B. Natural Resources
C. Capital Resources
D. Human Resources
What are human resources?
The choice that is made when given two options.
A. Economic Choice
B. Opportunity Cost
C. Benefit
C. Need
What is economic choice?
This is an example of an occupation.
Possible answers: Doctors, Scientists, Teachers, Police Officers
A product brought into a country for sale.
A. Services
B. Export
C. Import
D. Consumer
What is import?
This is an example of a human resource.
Possible answers: Doctor, Firefighter, Teacher, Police Officer, Chef
A need is something you must have to live and a want is something you would like to have, but do not need.
The job or work a person does.
A. Occupation
B. Investment
C. Human Capital
D. Funding
What is occupation?
A product sent out of a country for sale.
A. Producer
B. Goods
C. Import
D. Export
What is export?
This is a capital resource that a construction worker would use.
Possible answers: hammer, screwdriver, wrench, nails
This is an example of a need and a want.
Possible answers:
Wants: toys, video games, candy
Needs: clothes, food, water
The difference between an occupation and volunteer work.
An occupation is paid work and volunteering is something a person does for free.