Vocabulary Words
What is a seller?
a person who takes money or other items in exchange for things he/she wants or needs
True
What is the paper currency used in the USA called?
dollars
What does demand mean?
number of people who want or need something
What is a buyer?
a person who gives money or trades items for things he or she wants or needs.
What does every country in the world have regarding money?
A money system called currency.
What are paper bills in Canada called?
dollars
What is the percentages of oranges are grown in Florida for all of the United States?
75%
What does it mean to exchange?
To trade one item or another item.
True or false: Is money divisible?
True - it can be divided into smaller amounts.
Who is on the American $1.00 bill?
first president: George Washington
What is a product scarce in Florida?
Answers may vary: cheese, wheat, been, oil
What is scarcity?
When something is difficult to get or find.
True or false: Money is not durable.
False: money is durable, means it will be not fall apart easily.
What are Mexican coins called?
centavos
What does supply mean?
Amount of something that is available
What is currency?
A country's system of money.
Yes
show a picture of a queen
On page 115, how was Mr. Smith a buyer and a seller?
Answers may vary: Because Mr. Smith sold apples and buys goods and services needed for his farm, and a guitar from Mr. Timmons.