Social Studies February 2020

You choose to buy a pair of shoes instead of a coat. The opportunity cost is the _________

A restaurant provides both goods and services.

If you pay someone to walk your dog, you are paying for a

An opportunity cost is the thing you have to give up to buy something else.

Someone can't be both a producer and a consumer.

If many people want a new iphone, the cost will probably_______

If you buy popcorn at the movie theater, you are a consumer.

Fruit and vegetables are human resources.

The physical and mental effort used to produce goods and services is called_______

A new video game is a want, not a need!

Income is money earned from doing work.

You get your hair cut. The person cutting your hair is providing a _________

A company that sells sports equipment is selling goods.

We should buy things that we want before things that we need.

Someone who makes a product or provides a service is called a _______________________

Christmas decorations will probably be discounted after Christmas.

Food, water, and shelter are all____________

What natural resource is used to make paper?

If a store has trouble selling a product, the price will probably ___________

Before money, people had to do this if they needed something.