Studies Weekly 22/23

What helps people make choices about what to buy? Pick two

• Wants and needs

• available resources

• community solutions

• government meetings

Match each economic activity to its definition

• creating or improving services/products

• agriculture

• growing crops and raising animals

• research and development

• turning raw materials into goods

• healthcare

• providing goods & services to travelers

• manufacturing

• goods and services used to treat sick

• tourism

The money it costs to run a business is called _______

• enterprise

• expenses

• income

• profit

A ______ is when a business spends more than it makes

• expense

• loss

• profit

• risk

What business uses oceans, mountains and national parks

• agriculture

• healthcare

• manufacturing

• tourism

The money a business earns is called _______

• enterprise

• expenses

• income

• profit

The money left after a business has paid for everything is called _______

• enterprise

• income

• profit

• risk

Who starts a business with a new idea or to fulfill a community need?

• consumer

• entrepreneur

• organizer

• worker

What are questions answered by the study of economics? Pick three

• What creates natural resources

• what is produced in a community?

• how are goods and services produced?

• who receives the goods that are produced

Why would someone want to start a business?