Personal Finances and Economics

money earned

• salary
• income
• purchase
• spend

the work a person does

• labor
• income
• salary
• resources

Which of these examples is a service?

• Mr. Farr sells guitars.

• Mr. Swenson gives art supplies to consumers.

• Coach provides lessons for different sports.

• Ms. Miller writes books.

What does it mean when you save money?

• You buy a new outfit.

• You put money away for later.

• You invent a new good.

• You give money to help animals.

What does a baby sitter provide ?

• good

• service

What does a coach provide?

• good

• service

What is a natural resource?

• things we need to survice

• materials found in nature that are useful or necessary to life.

• materials that are man made

• the people who work for a business

What are examples of natural resources?

• water

• trees

• soil

• all of the above

What are examples of human resources?

• farmers

• cashiers

• teachers

• all of the above

How are capital resources used?

• they are used to create another good or service.

• they are not used by everyone

• they take too much work

• they are only used for capital cities