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Resources
Types of Businesses (Sole Proprietorship, partnership, corporation)
Buyers and Sellers
Supply and Demand
Random Economics
100
What are the three types of resources?
Capital, Human, and Natural
100

Luis and Cayden start a mowing business.

Partnership

100
Who is a buyer?
The person that buys goods and services.
100
Are supply and demand attached to each other?
Yes
100
Give me one example of a good?
Answers will vary as longs as it's a good it's correct.
200
Air is what type of Resource?
Natural
200

Miss Wilson starts a business offering dance classes.

Sole Proprietorship

200
Who is a seller?
The person that sells goods to buyers.
200

If the price of something is too high what will happen to Supply?

Will go up because people are not buying the product.

200
Give me one example of a service
Answers will vary as long as it's a service it's correct.
300
A tractor is what type of resource?
Capital
300

The whole school starts a new tech startup so there are many owners.

Corporation

300
When a person walks into a store and buys something they are what?
A buyer
300

If something is really popular what will happen to the demand?

Will go up because everybody will want the product.

300
Does economics involve money all the time?
No.
400
A cook in a restaurant is what type of resource?
Human
400

Ali, De'aveion, Tyrin, and Dylan start a pizzaria

Partnership

400
A person that makes and sells cookies is a what?
Seller
400

What happens to supply if there is a really good sale?

The supply will go down 

400

A contest between businesses or individuals to sell a product or service

Competition?

500
Give me an example of a human, natural, and capital resource
Answers will vary as long as they are correctly identified it's correct.
500

Maria starts a seafood food truck.

Sole Proprietorship

500
Give me one example of a buyer and seller in the same store.
Answers will vary as long as the buyer buys something and the seller sells it it's correct.
500

What will happen to demand if they raise the price of a product to make it really expensive?

The demand will go down.

500
Give me an example of a want and a need?
Answers will vary