Economy Unit grade 5

People in this type of economy tend to live in rural areas and are often hunters and gatherers

Any goods that are sent to other countries are called

Ms. Spalding is having a bake sale. What will happen if she raises prices of cupcakes?

A person who uses a good or service is a(n) (If i buy lunch, I am this...)

What is the meaning of the word "production"

Materials that are used to make goods and services are called PRODUCTIVE RESOURCES

In this type of economy, the government owns some or all of the main industries and property

When the amount of money you pay for something does NOT change from month to month, this is

This happens when there is not enough of a product that you want

Which of the following is not an essential need

Very few people are buying cakes at the class bake sale. What is the best way to sell more cake

How has a market economy impacted the United States over the years?

Getting harder... What is one of the biggest problems in any economy?

What is it called when you trade goods for other goods?

How do the resources a country has impact that country's economy?

How much money you make over a given period of time is called ....

People who perform certain jobs such as - doctor, lawyer, banker, surgeon -are examples of what

What is it called when each person is an expert at their job?

If the price of pizza went from $1 to $100, would more or fewer PRODUCERS want to sell pizza?

This economy is the MOST widespread in the world. Price is determined by supply and demand

Items brought into a country are called

If the demand for a product is greater than the supply, then this happens