Show:
Goods and Services
Wants and Needs
Business, Etc.
Spending/Saving
Resources
100

Who or what makes goods or services?

Producer

100

What is the amount of a product or service that is available?

Supply

100

Who combines all factors of production (resources) to make a profit?

Entrepreneur

100

What is it called when you give up one thing for another?

Trade Off

100

Resources from nature, such as land, water, animals, and minerals are called what?

Natural Resources

200

What is the making of products called?

Manufacturing

200

Things you must have in order to live are called what?

Needs

200

It cost Mr. Smith $80 to make a bicycle.  He sold the bicycle for $150.  Did he make a profit or a loss?

Profit

200

When you do not buy are get when you do a trade off is called what?

Opportunity Cost

200

The tools, machines, and money used to make or grow a product or service are what?

Capital Resources

300

Ariel teaches dance for a living.  Is she selling a good or a service?

service

300

At the store, Jesse bought some water and Melody bought some candy.  Which person bought a need?

Jesse

300

Mrs. Jones purchased a computer for $400, but sold it for $300.  What was her loss?

$100

300

Greg has decided he wants tobuy a new bike that costs $125, but he only has $75.  Does he need to save or spend his money?

Save

300

Mr. Smith hires three employees to help run his business.  What kind of resource is this?

Human

400
Businesses in which people are paid to provide a service to others is called what?

Service Industry

400

Things you don't really need but are nice to have are called what?

Wants

400

Mrs. Jones earns $30 for each purse she sells.  It costs her $40 in expenses to make a purse.  Is this a profit or a loss?

Loss

400

Mark buys a savings bond.  At the end of 10 years, the savings bond will be worth more money than he paid for it originally.  Is this saving or investing?

Investing

400

The people needed to make or grow a product or service are called what?

Human Resources

500

Who or what buys goods or services?

Consumer

500

What is the amount of a product or service that people want and are willing to pay for called?

Demand

500

Capital, human, and natural resources, and entrepreneurship together are called what?

Factors of Production

500

What is the amount of money you make from saving your money?

Interest
500

Mrs. Jones gets a loan at the local bank to start up her restaurant.  What type of resource is this?

Capital