Running a Business in a Community

What is a good?

• Walking a dog?

• Toy

• Fireman

• Babysitting

What is the definition of a good?

• are actions such as haircuts, medical check-ups, mail delivery, car repair, and teaching.

• something that is awesome

• an object people want that they can touch or hold.

• giving a haircut

Who makes or grows goods or offers services?

• producers

• consumers

• demanders

• resources

At the market, Mrs. Barney buys apples that have been grown locally. Where do you think the apples were grown?

• In a different state

• In another country

• Under the ground

• Near his community

A toy store has a large supply of blocks and wants to sell more of them. How can the store sell more blocks?

• Throw out the supply of blocks.

• Stop advertising the blocks.

• Lower the prices of the blocks.

• Raise the prices of the blocks.

Which is good advice for saving and spending money?

• Spend all of your allowance as soon as you get it.

• Use a budget to plan how much money you can save.

• Try to buy things you want before things you need.

• Buy things you use only once, then throw them out.

What is one way you can earn money?

• Open a lemonade stand

• Donate money to charity

• Volunteer at the library.

• Buy a horse.

What is supply?

• The total amount of a good or service one has to offer.

• How much people want an item or service

• service

• goods

What is demand?

• The total amount of a good or service one has to offer.

• How much people want an item or service

• A good

• A service

You are at an amusement park when it begins to rain. The demand for umbrellas will?

• increase

• decrease