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WorksheetsCommunity and Economy Vocabulary- JA Biztown
Total questions: 36
Worksheet time: 19mins
A ________________ is a place where people live, work, trade, and share.
Citizen
Communiy
Right
Responsibility
A ___________ is a member of a city, county, state, or country.
Resource
Business
Citizen
Scarcity
A business is _________________
a freedom to act in a certain way
a member of a community
a system which economic decisions are made
a company that sells goods or services
__________ is a system which economic decisions are made in markets with little government influence.
Business
Free Enterprise
Community
Circular Flow
People and things needed to produce goods and services.
Resources
Goods
Services
Circular Flow
Things people buy and use.
Resources
Goods
Services
Circular Flow
Work done for others, such as haircuts and car repairs.
Resources
Goods
Services
Circular Flow
A type of resource which occurs naturally in the world
Human Resouces
Capital Resources
Natural Resources
A type of resource made by people and used to produce goods and services
Natural Resources
Human Resources
Capital Resources
The labor, skills, abilities of workers used to make a product or service
Human Resources
Capital Resources
Natural Resources
A model of the movement of goods, services, resources, and money in an economy.
Free Enterprise
Natural Resource
Circular Flow
Money Management
Exchange of money
Trade
Scarcity
Money
Consumer
A situation where people cannot have everything they want because of limited resources.
Trade
Goods
Consumers
Scarcity
A person who starts their own business.
Consumer
Business
Corporation
Entrepreneur
Payments that citizens are required to make to government are called ________ .
net pay
gross pay
taxes
withdraw
Show up to work on time
Right
Responsibility
Do your homework
Right
Responsibility
Take a scheduled break
right
responsibility
Receive a paycheck for your work
right
responsibility
Keep track of your money in an account
Right
Responsibility
Haircut
good
service
Basketball
good
service
Check-up from the dentist
good
service
IPOD
good
service
Shoes
good
service
What is the amount of money an employee earns BEFORE any taxes or other deductions are subtracted?
net pay
gross pay
paycheck
taxes
What is the amount of money an employee receives AFTER taxes and other deductions are taken from a paycheck?
gross pay
net pay
final pay
taxes
What is developed to increase the well-being of others in certain areas, such as education, religion, health, and other good causes?
business
non-profit organization
democracy
goods and services
______________ is the effort to increase the well-being of people through charitable giving.
philanthropy
taxes
kindness
services
__________ are provided by a government for the use of all people.
taxes
private goods and services
public goods and services
nonprofit organization
_________ is the freedom to act in a certain way.
good
service
responsibility
right
________ is a good produced and offered for sale.
good
service
product
consumer
_________ is the money that is left over after a business pays all its costs.
profit
net pay
taxes
trade
