Vocabulary
________ is the study of how people use resources to meet their needs and wants.
What is economics?
Clean air to breathe
What is a need?
A water bottle
What is a good?
How many continents are there?
What is 7?
_______ is something that is needed for survival.
What is a need?
Buying ice cream from Tall Man's instead of getting fresh veggies from the farm stand down the road.
What is a want?
Netflix
What is a service?
What is the largest ocean?
What is the Pacific Ocean?
___________ is how much of something is available, while _________ is how badly people want that thing.
What is supply and demand?
The price for a new X-box at Best Buy and Walmart is $350.
What is the market price?
A haircut
What is a service?
What was the spark that started WWI?
What is the assassination of Franz Ferdinand?
_______ exists when there are not enough resources to satisfy human wants.
What is scarcity?
All of the Nee-Doh cubes are sold out in stores because so many people purchased them.
What is scarcity?
A pair of crocs
What is a good?
What is the real name of "The Night of Broken Glass"?
What is Kristallnacht?
What does the term "mania" refer to?
What is a huge desire for something, or a huge demand for something?
A ______ tulip has streaks of color, like the flame-colored one that was so popular.
What is "broken"?
School
What is a service?
What city is hosting the next summer Olympics?
What is Los Angeles?