Economics

What is a need?

• Nothing
• Something you have to have to live
• Something you would like to have
• Ice cream

Tags

CCSS.RI.5.2

CCSS.RL.5.1

CCSS.RL.5.2

CCSS.RL.6.1

CCSS.RL.6.2

What is a want?

• A person
• Something you would like to have but don't need to live
• Purple
• Something you need to live

Tags

CCSS.RI.5.2

CCSS.RI.6.2

CCSS.RI.7.2

CCSS.RL.5.2

CCSS.RL.6.2

A person who uses and buys goods and services 

• money 
• producer 
• consumer 
• economics 

A person who makes goods or provides a service 

• goods 
• service producer 
• producer
• consumer 

Which of the following is not a good?

• Clothes
• Food
• Dog Walker
• Toys

Things that were not made by humans and are found in nature

• natural resources
• human resources
• capital resources
• services

The idea that resources are limited; we don't have an unlimited supply of what we want

• scarcity
• supply
• demand
• inflation

How much people want something

• supply
• demand

How much of something is available

• supply
• demand

The money that remains after all the costs of production have been paid.

• Loss
• Supply
• Profit
• Tax