Materials that come directly from nature are _______
resources.
What are natural?
100
Diagram A is an example.
What are Natural Resources?
100
Things that people do for other people.
What are services?
100
Bread, toy car, bicycle
What are some examples of goods?
200
A person who uses a good or service.
What is a Consumer?
200
A person who uses resources to make goods or provide services is called a ____________________.
What is a producer?
200
Diagram B is an illustration.
What is Scarcity?
200
To trade by exchanging a good or service.
What is bartering?
200
I have a choice between buying an ice cream cone and a chocolate bar. I chose to buy the ice cream cone. The ice chocolate bar is an example.
What is opportunity cost?
300
Resources found in people, such as their skills and ideas
What is Human Resources?
300
Coins, paper bills, checks are examples of _______________.
What is money?
300
An appropriate title for Diagram C
What are Economic Resources?
300
When people focus on the production of selected kinds of goods and services.
What is specialization?
300
I have only 10 PS4s to sell and there is a line outside with at least 200 people in it that want to buy the PS4. The PS4 is a ________________
What is a limited resource?
400
Not enough resources to satisfy all of your wants and needs.
What are Limited Resources?
400
Things people would like to have, including basic needs are called _________________.
What are wants?
400
Diagram D is a great example.
What is Interdependence?
400
Resources are scarce. People cannot have everything they want.
What are reasons people make choices?
400
Mr. Hawk, Mrs. Mahalek, Ms. Frost, Mr. Feldman.
What are examples of specialization in our school?
500
The best thing that you give up to get something else when making a choice.
What is Scarcity?
500
Gold was an important ______________ resource in Mali.
What is natural?
500
Diagram E is a model.
What is a decision tree?
500
This is how we manage our money and our resources.
What is economics?
500
I have a brand new XBox 1 that I don't want and 4 of my friends that I equally like, are wanting to buy it. I will give it to the ____________________________.