Buying
A person who buys goods or services.
What is a consumer?
A person who sells goods or services.
What is a producer?
These are things we use. They can be natural, capital, or human.
What are resources?
In the Lorax, the Truffula tree is this type of resource.
What is a natural resource?
Things that people buy are called this.
What are goods?
This person would sell vegetables to the grocery store.
Who is a farmer?
Scarcity happens when these things are limited.
What are resources?
These are machines, tools, and other man-made things people use to provide goods and services.
What are capital resources?
In The Lorax, the Onceler's family members are this type of resource.
What are human resources?
These are things that people pay others to do for them.
What are services?
A person or business that makes things to sell to people is called this.
What is a producer?
This natural resource is scarce during a drought.
What is water?
These things are found, or grown, in nature and are used to make things to sell to others.
What are natural resources?
In the Lorax, these were the goods the Onceler made, which everyone, everyone needs.
What are Thneeds?
When people use coins and bills to buy things, they are using this.
What is money?
A person who sets up a lemonade stand and sells lemonade in her community needs these three natural resources.
What are lemons, water, and sugar?
This is what people must make when there aren't enough resources for them to have everything they want.
What is an economic choice?
This is a capital resource a lumberjack would use to cut down a tree?
What is an axe or a chainsaw?
In The Lorax, this character was the producer.
Who is the Onceler?
This is a way of buying and selling things that does not involve money.
What is bartering?
When you get a haircut, the hair dresser sells you this.
What is a service?
This is what stores will do to the price of a product when it becomes more scarce but many people still want it.
What is raise the price?
The people hired to make things in a factory are this type of resource.
What are human resources.
Cutting down all the Truffula trees creates this problem in The Lorax.
What is scarcity?
This is the study of how people use resources to provide for their needs.
What is economics?