4th Grade Economics

Economists use this model to help explain how goods and services are exchanged for money.

Complete the statement: If I do not have a job, I am considered ______.

Complete the statement: If people are ______, it means they have a job.

I open a lemonade stand. You decide to open one next door. Consumers now can choose between our lemonade. This is called

What term means when people or places produce certain kinds of goods or services?

Breaking down the production of a good into many small jobs is called what?

This term means "not enough"

This is the type of economy the United States has. One that is impacted by supply, demand and consumers.