A _____________ is something found in nature that people use.

You spend money to buy goods and services.

What is a good?

What is a service?

What is a consumer?

Producers make their goods close to the resources they ned to save money.

Which of these are NATURAL resources?

Which of these are HUMAN resources?

Which of these are CAPITAL resources?

What type of resource is things from nature used to produce goods and services?

What type of resource is the work people do and the skills they use to produce goods and services?

What type of resource is human-made goods used to produce goods and services?

What type of resource is people who take a risk to provide goods and services?

What kind of resource include these examples?

(sunlight, water, minerals, plants, soil, and animals)

What kind of resource includes these examples?

(construction workers, carpenters, servers, teachers, and firefighters)

What kind of resource includes these examples?

(tractors, drills, computers, machines, hammers, and nails)

Entrepreneurs are people who start a business-they use natural, human, and capital resources to do so.

What are things used to make goods and services?

Definition: The quantity of a good or service that consumers are willing and able to buy.

Definition: Exchanging one thing for another; an example is giving money to someone for food

Definition: The labor, both physically and mental, that is used in the production of goods.

Definition: The labor, both physically and mental, that is used in the production of goods.

Definition: The things used to produce goods and services, such as factories, tools, transportation services, and storage facilities. Does not include money.

Definition: exchanging one thing for another ( because you want to), which is beneficial to both parties.

Definition: items that satisfy people's needs and wants (food , crayon, video games ...)

Definition: The ability to take risks to start a new company, invent a new product, or process to make a product.

Definition: Money that citizens pay through the things that they buy or use, and through the income they make at their jobs; this money is used to pay for government services.

Definition: People are dependent on others for some of their needs; to get these needs people rely on others to produce them. The producers need people to buy their goods.

Definition: The amount of goods available.

How many types of productive resources are there?

Why do people trade?

To focus and concentrate on the production of one item

When citizens focused on one task, productivity increased.

Good or Service???

You take an airplane when you go on a trip.

Good or Service???

You buy your mother a flower from a flower shop for Mother's Day.

What does interdependence mean?

What is an example of interdependence?

What do people use for most trades today?

Something you need to stay alive like food and water

Something someone does for others like mowing grass, and teaching students.

Something you would like to have

Someone who uses goods and services like a customer in a grocery store.

Someone who provides a good or service like a farmer or doctor

How much of something people want to buy

How much something costs

What you give up to get something else.

A farmer grows food that the doctor eats; the doctor takes care of the farmer if he is sick. This is an example of___.