Economics
Things that are made or grown
What are Goods?
Someone who pays (buys) goods or services
Who is a consumer?
How much money a good or service cost
What is a price?
What the air is like outside
What is weather?
Moving air is called...
What is wind?
Someone who makes or grows goods or offers services
Who is a producer?
Purchasing one item at the expense of not being able to purchase another item
What is opportunity cost?
The layers of air that cover the earth's surface
What is atmosphere?
The pattern of the weather in a place over a period of time (many years).
What is climate?
Something people must have to live or survive
What is a need?
How much consumers want something
What is demand?
Producers competing against each other for customers
What is competition?
The four conditions used to describe weather
What are:
1. Temperature 2. Wind Speed & Direction 3. Cloud Cover 4. Precipitation
A very cold and dry climate
What is polar?
Something you would like to have (but needed to live)
What is a want?
The amount of goods available to consumers
What is supply?
People depending on each other to get the things they can't produce
What is interdependence?
Four Types of Precipitation
What are rain, sleet, hail and snow?
How far North or South a place is from the Equator
What is Latitude?
When resources/goods are limited
What is scarcity?
When the demand is high and there isn't enough supply
What is a shortage?
When individual groups or countries produce certain (particular) kinds of goods
What is Specialization?
How hot or cold something is?
What is temperature?
A very warm and wet climate
What is tropical?
Mowing someone else's lawn (Are you providing a Good or Service?)
What is a service?
When the demand is low and there is a lot of supply
What is a surplus?
Selling apples in the market (Are you providing a Good or Service?)
What is a good?
Two ways temperature is measured
What is Celsius and Fahrenheit?
A scientist that studies the weather
What is a meteorologist?