Show:
Economic Choices
Economics
Vocabulary
Natural Resources
Capital Resources
Human Resources
100
An economic decision among alternatives or possibilities.
What is economic choice?
100
Something that can be bought to satisfy a person's wants and needs
What is a good?
100
A good that comes from nature.
What is a natural resource?
100
A good that is made my people and used to produce other goods and services
What is a capital resource?
100
People working to produce goods and services.
What are human resources?
200
The next best choice that is given up when an economic decision is made
What is opportunity cost?
200
Activities that satisfy people's wants and needs.
What are services?
200
Trees are natural resources used by ______________ to make wood products.
What are producers?
200
Which Ancient civilization was famous for building ships?
What is Ancient Greece?
200
Teacher, Mailman, toothbrush, oil: Which are human resources?
What are teacher and mailman?
300
Benjamin wants to buy a toy or a book. He decides to buy the book. The book is an _________________
What is economic choice?
300
When there is scarcity people do this to get what they need or want.
What is trade?
300
Gold and salt were natural resources from this Ancient country?
What is Ancient Mali?
300
Which Ancient civilization was famous for building roads and aqueducts?
What is Ancient Rome?
300
Mining, Farming, and Trading were human characteristics of ___________________.
What is Ancient Mali?
400
Georgia wants to buy a limo and a pony. She only has enough money for one thing. She buys the limo. The __________ is her opportunity cost.
What is the pony?
400
Because people can't have everything they need, they often focus on making one good or providing one service. This is called ______________________.
What is specialization?
400
Pottery, coal, grapes. Which is NOT a natural resource?
What is pottery?
400
Water, Coal, Shoes, Soldiers: Which is a capital resource?
What are shoes?
400
In Ancient Greece, people were traders, farmers, and ____________________.
What are shipbuilders?
500
Grace earns a lot of money. She wants to buy a book, but she decides to save for a bike instead. Giving up the book was an ______________________.
What is opportunity cost?
500
When there is not enough of a certain good or service to go around.
What is scarcity?
500
Name three natural resources found in both Ancient Greece and Rome.
What are grapes, wheat, barley, olives (olive oil), fish?
500
A ___________________ is a person who buys and uses capital resources.
What is a consumer?
500
Name three human resources that might be found in Ancient Rome.
What are traders, farmers, road builders, and soldiers?