Supply and Demand
If the demand goes up, the price goes
up
a person who buys a good or service
consumer
This resource is made by nature
Natural Resource
Name something that is not a good to use for making money as it is not durable.
Possible answers:
- tea leaves
- thin paper
- bags
- anything that will last a long time
The thing that you give up when you buy something else
Opportunity Cost
If the supply goes up, the price goes
down
a person who makes a good or provides a service
producer
This resource is produced by people
Human Resource
Name something that would not make a good form of money because it is not portable.
Possible answers:
- Giant rocks
- heavy weights
- tanks
- anything big
to trade without money
Barter
How does advertising affect the demand for a product?
Advertising makes the demand go up.
Carlos is playing with his brand new soccer ball. Carlos is acting as a....
consumer
This resource uses goods to make other goods
Capital Resource
What about Mexican currency makes it easy to tell apart?
Mexican currency has different lengths.
making one kind of good, or providing one kind of service
specialization
After new years, what will probably happen to the price of effigies?
They will go down
Mrs. Maureen's class sets up a school store. This is an example of....
producer
A chef, baker, teacher, doctor, and secretary are what type of resource?
human resource
What is the nickname of an 11-sided coin from Canada?
Loonie
not having enough of something
scarcity
Using the words high and/or low answer the following question.
In winter, a store is running low on jackets. What is the likely supply and demand of the jackets?
High demand, low supply
Sofia did her weekly chores around the house. At the end of the week she received an allowance. Sofia is acting as a....
producer
Fruits, eggs, fur, milk, and butter are all examples of what kind of resource?
natural resource
which two areas (currencies) have a picture of a queen printed on it?
Canada and Caribbean
dependin gon others to produce things you need
interdependence