A good is something made or grown to be bought or sold.
100
What is a producer?
Somebody who makes something.
100
What is a product?
The same as GOODS - items made or grown to be sold.
100
What is supply?
How much of a good that is available.
100
What is an import?
When you bring an item from another country IN to your home country.
200
What is a service?
When someone does something for you.
200
What is a consumer?
Somebody who buys something.
200
What is an industry?
Specific types of manufacturing and selling.
200
What is demand?
How much people want a specific good.
200
What is an export?
When you take an item from your home country and send it to another country.
300
A television is an example of a _______________. (good or service)
Good
300
Wendy goes to the store to buy shoes. Is Wendy a producer or consumer?
consumer
300
Corn, peas, and carrots
Are these an example of a product or industry?
product
300
A bakery made 30 donuts. 100 people want them. The supply is ___________ (high or low). The demand is __________ (high or low).
The supply is low. The demand is high.
300
The USA sends lobsters to China. Are the lobsters an import or export?
Export
400
A babysitter watching children is an example of a ____________. (good or service)
A service
400
Tiawanna makes Lion King posters to sell at the school play. Is Tiawanna is a producer or consumer?
producer
400
Toy manufacturer
This is an example of a product or an industry?
Industry
400
Skittles came out with a new flavor Skittle that tastes like dirt. The store stocks a large shelf with the new flavor. Nobody likes them.
The supply is _____________.
The demand is ____________. The price will _______.
The supply is high.
The demand is low.
The price will decrease.
400
A shipment of blankets come to the USA from Africa. The blankets are an ____________? (import or export)
import
500
Your car needs the window fixed. A repair man fixes your car window.
The car is an example of ___________.
The repair man is an example of ____________.
The car is an example of a good.
The repair man is an example of a service.
500
Markyus makes lemonade to sell in his neighborhood. He makes a lemonade stand. It's a hot day. Ariana is playing outside and sees the lemonade stand. Arianna buys lemonade from Markyus.
Markyus is a ____________. Arianna is a ______________.
Markyus is a producer.
Arianna is a consumer.
500
Baby clothes, baby blanket, and bib are examples of ____________.
Baby products are an example of ______________.
Baby clothes, baby blanket, and bib are examples of products.
Baby products are an example of industry.
500
A store has a new pair of shoes that light up on the bottom. Kids wait in line to get them. The store has 100 pair. There are 1,000 kids waiting to buy them.
The supply is ___________.
The demand is __________. The price ___________.
The supply is low.
The demand is high.
The price increases.
500
The USA sends phone parts to Japan. This is an example of __________.