Currency
How many characteristics must money have?
4
This country has currency called a Loonie and Toonie.
Canada
What is a buyer?
Someone who gives money in exchange for a good or service.
What does import mean?
To bring goods in from another country.
What are some disasters that could cause a supply to become scarce?
Hurricane
Tornado
Drought
Another name for money made from small pieces of metal stamped with a design.
Coins
Who is on the US $1 bill?
George Washington
What is a seller?
Someone who accepts money in exchange for a good or service.
What does export mean?
To sell goods or services to another country.
What term describes a limited supply of a product?
Scarce
What does it mean to buy something?
To get something in exchange for money.
What is the name of Mexico's currency?
Peso
What is another name for seller?
Producer
What is another name for a buyer?
Consumer
Name one thing that we discussed in class that could cause scarcity of goods.
Climate
Disaster
Demand
Seasons
If you pay someone to walk a dog, what are you paying them for?
A service
Currency in the US uses coins and bills. What characteristic of money is this?
Divisible
What does divisible mean?
Able to be divided or broken down.
What is demand?
When many people want to buy something, why could it become scarce?
The demand is high.
Name the 4 characteristics of money.
Durable
Portable
Divisible
Recognizable
What currency does Puerto Rico use?
US Dollar
Name the 5 fields of Social Studies
History
Geography
Economics
Civics
Archaeology
Explain how supply, demand, consumers and producers are related.
Producers make the supply of a good; consumers demand a good.
What is one way to solve scarcity?
Trading