You have $5 to spend and you decide to buy pizza and not a new toy. Name your opportunity cost.
What is the new toy.
100
The science of making, distributing and using goods and services. What is our unit of study?
What is economics?
100
Give one positive incentive example from home.
What is (answers will vary)
100
You open a cupcake business and sell cupcakes for $2. You sell 10 cupcakes. How much to you make in all?
What is $20
200
When you lose a minute in class.
What is negative incentive
200
You went over your data for the month. You must pay $15.
What is a negative incentive.
200
When a resource is not available or only a small amount are available.
What is scarcity?
200
What is specialization?
When a producer focuses on providing one type of service or good.
200
You buy flour to make cupcakes and it costs $4. You sell all of your cupcakes and make $48. How much money do you have after you pay for the flour?
What is $44.
300
The person who purchases goods and services.
What is a consumer?
300
There are lots of stores and people selling things. This is an example of what?
What is a market place?
300
A reward or a motivaiton for someone to do something.
What is positive incentive?
300
Describe an example of an economic choice.
Answers will vary.
300
Noah bakes bread. He has to buy sugar, flour, eggs and salt at the store for his ingredients. Noah is called a " " when he purchases the ingredients.
What is consumer?
400
The person who makes goods or provides services.
What is a producer?
400
You get $10 in allowance money. You have to pay your sister $5 for her help mowing the lawn, save $2 in your piggy bank and have $3 to spend on a toy. This is an example of what?
What is a budget?
400
Activities that you can purchase. This may be fixing something in your home or providing you a ride somewhere.
What are services?
400
Jimmy has the coolest hats in town. Everyone wants them. The _______ is high for his hats.
What is demand?
400
Colleen sells bread. She is called a " ".
What is a producer?
500
A plan to save and spend your money.
What is a budget?
500
These are resources found in nature that help producers make things.
What is natural resource?
500
When our wants are greater than our ability to satisfy them. There isn't enough.
What is scarcity?
500
Give an example of when you had to experience opportunity cost.
What is (answers will vary).
500
Name a job that Mr. Waters has worked in his life.