Economy Definitions

What is not an example of a raw material

• oil

• coal

• natural gas

• plastics

A lawn care company is an example of a

• service

• good

• a manufacturing business

• a franchise

What is a market for goods and services?

• Where the raw materials are made into products

• Where the raw materials are created

• A store where you sell stuff, such as Best Buy

• The potential customers that will purchase what you are selling/creating

• A store in the middle of a desert that sells sad

What is consumption?

• When products are used

• When products are created

• When products are sold

• When products are recycled

What is an example of work labor?

• The act of giving birth to a child

• work, especially hard, physical work

• People that are hired

• People that are paid to sell a product

Kooper is part of a sector of the population who is looking for a job. He would be part of the

• The factory owners

• the workers

• labor market

• the factory union

What is most true about wages

• It is what the workers own

• It is what the workers get paid

• It is what the workers spend

• It is what the workers create

Canada has great amount of this natural resources in RESERVE. What do we have here?

• top soil for farming

• water

• oil and natural gas

• wood

• Yeah...we kind of have all of those

All workers get paid at least a minimum wage in Canada.

• True

• False

What makes the economy function?