Social Studies Ch 2-Economics

something you would like to have but do not need

• need

• opportunity cost

• capital resource

• want

work that people do such as cutting hair

• trade-off

• services

• human resource

• goods

what you have to give up to have something else

• need

• goods

• producer

• opportunity cost

what kind of resource is milk?

• natural

• capital

• human

what kind of resource is planting an apple tree

• capital

• human

• natural

What kind of resource is a fishing pole

• capital

• natural

• human

What word describes this picture

• producers

• consumers

• wants

• needs

What capital resources are needed to produce what you see in this picture?

• cows, chickens, seeds

• tractors, plows, factories

• knowledge about farming

Mia helps her mom at the local bake shop on the weekends, She is a __________

• tax payer

• volunteer

• occupation

• producer

maker of goods

• consumer

• human resource

• producer

• technology