Basic Definitions
in class learning about finances and a day-long visit to a simulated town
BizTown
tangible, real items made or produced by a business (tables, cars)
goods
CEO (chief executive officer)
those who make goods and perform services
producers
Using this is an easy way to pay, but it cannot be replaced if it's lost or stolen.
cash
something necessary or required to live and function
needs
the amount of a good or service that's available
supply
CFO (chief financial officer)
those who use good and services
consumers
Using this is a convenient way to pay using your own money, but you need to remember your PIN.
debit card
something to improve your life but not NEEDED
wants
tasks performed for citizens (car repairs, banking)
services
How many times will each citizen of BizTown be paid?
2
Trees, rivers, and animals are what type of resources?
natural resources
What does PIN stand for?
personal identification number
a short, memorable phrase used in advertising
slogan
the amount of a good or service that is wanted by people
demand
What is the job title of the person who is in charge of all of BizTown?
mayor
The labor and brains of people are what type of resources?
human resources
This way to pay loans you money, and you have to pay it back with interest.
credit card
When you applied for a position, you filled out a _____.
job application
a handshake and a smile
What is the name of the place and job where you will get your money?
bank teller
Tools, money, and machinery are what type of resources?
capital resources
These TWO ways to pay use your own money.
cash and debit cards