Goods and services
What is a good? What are 2 examples?
What is things workers make or grow and then sell to customers. Examples include apples, computers, toys.
What is the definition for a natural resource?
What is something found in nature that people can use (lumber, limestone, oil).
What is a need and what are 2 examples?
What are things that you must have to live such as food, water, or shelter.
What does a producer do?
What is a person or business that makes goods or provides services?
What do we call a product or resource sent from one country to another?
What is an export?
What is a service? What are 2 examples?
What is work that one person does for another. Examples include bus driver, maid, mechanic.
What is the definition for a human resource?
What is people who make products or provide services.
What is a want and what are 2 examples?
What is things you would like to have but do not need such as video games or a watch.
What does a producer do?
What is a person or business that buys and uses good and services.
What do we call a product or resource brought into one country from another?
What is an import?
What is Michigan known as the center of what industry?
What is the auto industry?
What is the definition for a capital resource?
What is things needed to produce goods and services such as tools, computers, or buildings.
What is a budget?
What is a plan that shows income, expenses, and savings.
What is an entrepreneur?
What is a person who starts, organizes, and manages a business.
What is interdependence?
What is when other states and countries depend on each other to get what they need and want.
What is an incentive?
What is something that will make a person want to do something such as sales.
What are goods provided by the government and paid for by the taxes called?
What is public goods.
Daily Double!!
What is opportunity cost? What would you give up if you wanted a stuffed animal and a book and bought the book?
What is what is given up when you choose one thing over another. The opportunity cost would be the stuffed animal.
What is a way producers call public attention to a product? Hint: Billboards and commercials.
What is advertising?
What is a tax?
What is money people pay to the government?
What is a profit?
What is the extra money earned above what something costs to make.
What are services provided by the government and paid by taxes called?
What is public services?
What is it called when there is not enough of something to meet people's needs and wants?
What is scarcity?
What is it called when each person has a special skill and does one job or part of a project?
What is specialization?
Daily Double: For double the points can you name both what is a fine and a fee?
What is a fine is money paid by someone to the government when he or she breaks a rule or law. A fee is a charge for a service.