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ECONOMICS Flashcards | StudBud

Explore/ECONOMICS

ECONOMICS

12 terms·StudBud Administration·224 plays

Mini lesson for elementary students #economics #pob #principlesofbusinessandfinance

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Questions 12

Answers

1
Define supply
arts and crafts
items for school
how much there is of something
2
What is an ECONOMIC want?
desire for things that do not need money
desire for just things
desire for things that need money
3
Define demand
how much people want to buy a product
a bossy person
4
What is economics?
study of charts and graphs
study of food,snacks, and drinks
study of production, consumption, and transfer of money
study of earth and the ecosystem
5
Give an example of a NATURAL resource
factory
tree
computer
phone
6
Which of these is a CAPITAL good?
car
veggies & fruit
bank worker
trees and soil
7
Give an example of HUMAN resources
construction workers
computer
internet
bank
8
What are goods?
Anything made or fabricated to sell
treats and candy
9
Which of these is a service?
phone
nail salon
tennis shoes
car
10
what is a NONECONOMIC want?
want for things that DON'T need money
want for things that DO need money
nothing to do with earth
something about earth
11
What is consumption?
buying and drinking a coke
wearing a shirt
using up goods and services
riding a bike
12
Define opportunity cost
deciding how to use resources
how much a shirt will cost
this is not a real word
choosing which doctor to go to