Show:
Economic Choices
Using Resources
Using Resources
Using Money
Labor and Relationships
100
This is someone that buys goods or services
What is a consumer?
100
When you give up something for something else
What is a trade-off?
100
When people are allowed to start and run their own business
What is free enterprise
100
Money earned for people's work
What is income?
100
Dividing production into different jobs or tasks.
What is division of labor?
200
This occurs when you make a decision about how to use resources
What is an economic choice?
200
What's given up in a trade-off
What is opportunity cost?
200
Someone who runs and operates their own business
What is an entrepreneur?
200
Money loaned out from a bank you have to pay back and then some!
What is interest?
200
Depending on one another for products and services
What is interdependence?
300
We call this situation when there are a certain amount of resources to fit our needs and wants.
What is limited?
300
This is what large farms are called that are owned by large companies
What are commercial farms?
300
Workers who make goods and services
What are human resources?
300
Buying something that will grow in value
What is invest?
300
Goods and products sold to other countries
What are exports?
400
mica, granite, feldspar, zinc...
What are non-renewable resources?
400
More than half of North Carolinians work in this industry
What is the service industry?
400
Tools, machines, buildings necessary to run a business
What are capital resources?
400
Tax paid when you buy something.
What is sales tax?
400
Goods and products brought in from other countries
What are imports?