Economics #1
Economics #2
Economics #3
Economics #4
Economics #5
100
Things that people do for others
Services
100
people who make goods or provide services
Producers
100
the money you spend
Expenses
100
Wealth supplied by nature, such as mineral deposits, soil, sunlight, timber, water, wildlife.
Natural Resources
100
What you make annually (yearly)
Salary
200
a good that is made to help produce other goods
Capital Resources
200
the word that means to receive merchandise from abroad, particularly from foreign countries
Imports
200
The amount of money a good or service costs
Price
200
The quality of a commodity or service that is available.
Supply
200
What you make per hour is called
wages
300
someone who works to produce goods and services
Human Resources
300
things people must have to live
Needs
300
Trading goods and services instead of using money.
Bartering
300
Ship merchandise abroad, particularly to foreign countries.
Export
300
Bonus 1: Name an example of a natural resource
Oil, coal, natural gas, metals, stone, and sand
400
people who use goods and services
Consumers
400
the money you earn
Income
400
Savings
Extra money set aside "just in case"
400
The number of people that would like to buy a particular good or service
Demand
400
What does a credit card and a savings account have in common
They both earn interest
500
food, shelter, air, and water
500
when there is not enough supply, but great demand
Scarcity
500
People would like to have but don't need to live.
Wants
500
The extra money left after business expenses are
subtracted from revenue
Profit
500
Bonus 3: Name an example of a capital resource
tools, buildings, vehicles, machinery, and equipment.