Basics
Food, Shelter, and Water are all examples of these.
What are needs?
This is the amount of something available for sale.
What is supply?
This is a place where people go to buy and sell things.
What is a marketplace/market?
The monetary value of of a product. How much something is worth.
What is price?
These two countries recently resumed their war after ending their ceasefire.
What is Palestine and Israel?
This is something you buy that you can hold or touch.
What is a good?
This is how much people are willing to buy of something.
What is demand?
This is something people use in trade to buy other things, a widely accepted form of payment.
What is money/currency.
These are people who are making things.
What are producers?
This country was recently struck with U.S. missiles after the plans were leaked online.
What is Yemen?
A desire for a good or a service.
What is a want?
This is when there is not enough of something to meet everyone's wants or needs.
What is scarcity?
Trading things WITHOUT the use of money.
What is bartering?
These are people who are buying and using things.
What are consumers?
Donald Trump has threatened to increase these taxes on Canada, China, and Mexico.
What are tariffs?
This is the study of how people use money.
What is Economics?
This is what happens to demand when price increases.
What is to go down.
This has been used in the past as money.
What is salt, feathers, gold, iron, silver, livestock.
What is competition?
Donald Trump has cut most of the funding and federal workers for this Federal Department.
What is the Department of Education.
Mr. Solaas does not produce goods, instead he is paid for providing a ___________.
What is a service (education).
This is what happens to the price of something when demand is high but supply is low.
These are people who specialize in making certain things, tools, weapons, medicine, etc.
What is an artisan?
This is someones motivation or reward.
What is an incentive?
This country recently had a 7.7 earthquake that has killed over 2,700 people.
What is Myanmar?