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Vocabulary
Vocabulary
Productive Resources
Economics
Jeopardy Fun
100
The study of how people make, distribute and buy goods and services.
What is economics?
100
The money a company makes after expenses.
What is profit?
100
The shovel, the watering can and the hoe were all examples of this productive resource in the book, The Little Red Hen.
What are capital resources?
100
Any object a person needs to survive.
What are needs?
100
Money paid to the government
What are taxes?
200
Actions or activities one person performs for another person.
What are services?
200
The desire or wish for things.
What are wants?
200
The sun, the water, and the soil in The little Red Hen are all examples of this.
What are natural resources?
200
To bring goods or services into a country from another country usually for selling.
What is import?
200
Rivalry between companies.
What is competition?
300
A person who buys products, uses products, and/or eats food.
What is a consumer?
300
The amount of a product or service people want and are willing to pay for.
What is demand?
300
Something such as a mineral, waterpower source, forest, or kind of animal that is found in nature and is valuable to humans
What is natural resource?
300
To bring goods into a country.
What is import?
300
The amount of a product or service that is available at a given time.
What is supply?
400
The cost of running a business including capital resources, salaries and overhead.
What are expenses?
400
People, groups, or companies that make goods and services.
What are producers?
400
Teachers, doctors, barbers are examples of this type of resource.
What are human resources?
400
If demand is high the price of a product will most likely do this.
What is increase?
400
In this type of economic system the government determines how much will be produced and what products will cost.
What is command economy?
500
Lacking in quantity or number.
What is scarcity?
500
To send goods and services abroad especially for sale in another country.
What is export?
500
This type of economic system has the potential to amek the most money.
What is a market economy?
500
The goal of this economic system is to maintain the same traditions from one generation to another.
What is a Traditional Economic System?
500
In this type of economic system ownership of resources and businesses is by individuals.
What is market economy?