This is any article or substance used as a medium of exchange, measure of wealth, or means of payment for items of real value.
What is money?
100
Banks provide this for my money so i don't have to worry about it.
What is security?
100
This is the study of our efforts to satisfy our unlimited wants through the use of limited resources.
What is Economics?
100
Fishing, mining, forestry, and agriculture are all examples of this.
What is Primary Industry?
100
This is what we do when we make a purchase without weighing (or at least properly weighing) the opportunity costs.
What is Impulse Buying?
200
This is a payment made or owed.
What is a debit?
200
I can make this if I keep my money in a bank.
What is interest?
200
Economics begins with this.
What is scarcity?
200
Workers in this sector of the economy provide services rather than goods.
What is the tertiary Sector?
200
This happens when there is a high quantity of the product supplied on the market.
What are low prices?
300
!!!DOUBLE-JEPARDY!!!
This is the ability of a customer to obtain goods or services before payment, based on the trust that payment will be made in the future.
What is credit?
300
I don't have to carry around my coins or cash with my money in the bank. It is so much more ____________!
What is convenient?
300
This is something of use, advantage, or of value within an economy.
What is a commodity?
300
Traditionally, this required large numbers of manual workers, with very specific skills. Today, many are using new technology that has changed these requirements.
What is Primary Industry?
300
!!!DOUBLE JEOPARDY!!!
This is when scarce items are made too expensive for the general population.
What is price rationing?
400
This is something, typically money, that is owed or due.
What is debt?
400
It is easier to do this when my money is not with me.
What is saving money?
400
Economists divide scarce things into these two groups:
What are goods and services?
400
A doctor involved in cancer research belongs to this sector of the economy.
What is Quaternary Industry?
400
This is the original amount borrowed, and the interest is the profit made from it.
What is the principal?
500
This is when a debtor offers real property to a creditor as security for a debt, on the condition that it shall be returned on payment of the debt plus interest within a certain period.
Interest: an extra sum of money charged to the debtor as a fee for his borrowed money.
What is a mortgage?
500
Banks want my money really bad so that they can _______ __ ____ __ ____________ for profit. So, they treat me very nicely.
What is lend it out at interest?
500
On the demand and supply sides of the market are these:
What are consumers and producers?
500
I have engineered myself a new and more efficient type of solar panel and I have been selling them and installing them in my neighbours' yards.
What is the quaternary and tertiary sector?
500
Generally, when we take out a loan from the bank, we make monthly payments. As we make our payments, this increases and this decreases.
What are the principal payment and the interest payment?