Flare
things necessary for survival
What is a need?
Something that isn’t necessary for surviving.
What is a want?
When very few are found/left.
What is scarcity?
______ has different colored dollar bills.
What is Canada or Mexico?
When you take money out of the bank.
What is withdrawal?
_______ is the simple version of desicions.
What is choices?
Goods and services are made by a ________
What is a producer?
________ is the money system for certain countries.
What is currency?
________ buys the producer’s products.
What is a consumer?
When you _______ you put money in the bank.
What is deposit?
_____ is what is bought and held by the consumer.
What is are goods
________ is what is bought that cannot be held.
What are services?
Something to give up for something else based on cost.
What are opportunity costs?
The making of a kind of good or providing of service.
What is specialization?
Things to make goods or services.
What are resources?
To trade items without having money involved.
What is bartering?
The best forms of money are ________, _________, _______, and ____________.
What are portable, divisible, durable, and recognizable?
People and countries are ______________, so they ______ and ______ many goods and services.
What are interdependent, import, and export?
What does the price on supply and demand do?:
a. If the supply goes down, the price goes up
b. If the supply goes up, the price goes down
c. If the demand goes up, the price goes up
d. If the demand goes down, the price goes down
e. All of the above
What is E? (All of the above)
The more resources you have for product or service.
What is supply?
The more people want the item.
What is demand?
Increase the demand of an item
What is advertising?
Saving money in bank.
What is earn interest?
Borrowing money from the bank.
What is pay interest?
Types of resources.
What are natural, human, and capital resources?