Economics

Who makes the decisions in a command economy?

• Consumers
• Private companies
• International organizations
• Government

What are some examples of natural resources?

• Water, air, sunlight, soil, minerals, plants, animals
• Concrete, plastic, glass
• Clouds, thunder, lightning
• Wind, fire, rocks

What is a consumer?

• A type of financial institution
• A government agency that regulates businesses
• A software program used for data analysis
• An individual or group that purchases goods or services

What is a producer?

• A producer is a term used in agriculture to refer to a type of crop.
• A producer is a type of musical instrument.
• A producer is a person who operates machinery in a factory.
• A producer is a person, company that makes, grows, or supplies goods

What is an example of a want?

• A new car
• A vacation to Hawaii
• A pet unicorn
• A new phone

What is an example of a need?

• Phone

• Shelter
• Toy

• Computer

What is an income?

• Income is the money that an individual or business spends on goods and services.
• Income is the money that an individual or business borrows from others.
• Income is the money that an individual or business saves for future use.
• Income is the money that an individual or business receives in exchange for providing a good or service.

What is a wage?

• A wage is a payment or compensation given to an employee by an employer in exchange for work done.
• A wage is a form of transportation.
• A wage is a type of fruit.
• A wage is a gift from the government to citizens.

What are taxes?

• Taxes are mandatory financial charges imposed on individuals by the government

• Taxes are voluntary contributions to the government.
• Taxes are only paid by businesses.
• Taxes are used for personal savings.