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Kirksey
Basketball Rocks
Snow Day
Cougars
Social Studies is My Favorite Class
100
Merchandise that a person can buy that can be held or touched.
What are Goods
100
Any labor that is done for a person or company
What are services
100
The production, distribution, and consumption of goods and services.
What is Economics
100
When goods and services are traded without the use of money.
What is bartering
100
The amount of money that is left over after the expenses are subtracted.
What is profit.
200
How much of something that is available to consume
What is supply
200
Coal, iron ore, oil
What is a nonrenewable resource
200
I go to Walmart to buy a new bike for Christmas.
What is a consumer
200
How badly a good or service is wanted by consumers
What is demand
200
Wind or water
What is renewable resources
300
A person or business that purchases goods or services.
What is consumer.
300
Resources that can not be replaced
What is non renewable resources.
300
A person who stars and operates a business
What is Entrepreneur
300
The amount of money left after a good or service is sold for a price below its cost
What is loss
300
Resources that can be replaced
What is renewable resources.
400
The money the government collects to pay for public goods and services
What is taxes
400
A person or business that makes a good or a service.
What is a producer
400
When a resource, good, or service in not abundantly available.
What is scarcity
400
In the US, consumers decide what good and services will be created and sold. What type of economy is this?
What is free market economy
400
The goods and services that a person gives up when they purchase an item.
What is opportunity cost
500
Work that can be either physical, mental or both to produce a good or service.
What is labor
500
All resources and materials used to produce goods and services
What are factors of production
500
Machines, tools, buildings, and other things owned by a business.
What is capital
500
Sam Walton is one of these
What is Entrepreneur
500
Your favorite teacher at KMS
Who is Mrs. Sherman :)