Economics

What is Economics?

• The study of how we make choices to produce and buy resources.

• The study of how we spend our money.

• The study of food, and how we make food.

• The study of animals and wildlife.

I went to the store and I bought something. Who am I?

• Trader

• Barterer

• Consumer

• Producer

What are video games?

• Good

• Service

What is a construction worker?

• Good

• Service

When a person gives something to someone and then gets something else in return it is called...

• Swapping

• Trading

• Buying

• Selling

What is a human resource?

• Materials that come directly from nature.

• People who work to make goods and services.

• Materials that are made by people and used to make other goods and services.

Materials that are made by people and used to make other goods and services are a...

• Natural Resource

• Human Resource

• Capital Resource

What are these?

• Human Resources

• Natural Resources

• Capital Resources

What is an example of a benefit?

• Seeing a movie after buying a theater ticket.

• The cost of a theater ticket to see a movie.

• The actors in the movie.

What is an example of a cost?

• Spending time with a friend you invited to a sleepover.

• Not getting to spend time with your other friends after inviting one friend to a sleepover.

• Your mom only letting you invite one friend to a sleepover.