Chapter 2: Economics

What word best describes what you see in this image?

• needs

• wants

• consumers

• producers

What is a capital resource?

• a resource from nature

• a person´s skills or talents

• a man made tool or machine used to make goods

• a need

Holly has an Etsy shop where she sells friendship bracelets. She has decided to start exporting her bracelets.

What conclusion can we make about Holly´s business?

• She will make more products

• She will save money on shipping

• She will find it easier to get resources

• She will gain more customers

Mrs. Ogozaly orders pizza from Nick´s on Friday night with her family. This is an example of her ______________.

• producing an item

• shopping local

• exporting an item

• trading for what she needs

One reason Mrs. Ogozaly orders from Nick´s pizza is ____________.

• she saves on shipping

• she carries out a responsibility

• supports her community

• gets more customers

What kind of resource is an apple?

• Capital Resource

• Human Resource

• Natural Resource

A refrigerator is a ______________ resource.

• Human

• Natural

• Capital

Planting Seeds is an example of a ________________.

• Human Resource

• Natural Resource

• Capital Resource

Holden studied hard when he was in school. What is another way of describing what Holden did?

• funded his education

• invested in his human capital

• volunteered for a good cause

• increased his capital resources

If this photo was in a magazine, what caption might be underneath it?

• Let´s look at opportunity costs and trade offs

• How Capital Resources have changed

• Why taxpayers fund schools

• Why volunteer work is important for others