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Enerprising 4th Graders! Flashcards | StudBud
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Enerprising 4th Graders!
Enerprising 4th Graders!
20 terms
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StudBud Administration
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292 plays
An #economics game to introduce the basics of the Free Enterprise System
Flashcards
20 cards
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Practice quiz
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Host live
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Questions
20
Answers
1
What are "Taxes"?
Money paid to the government by businesses and consumers
Money paid to employees for doing their job
Texas...misspelled...
Money paid by the government to businesses and consumers
2
What is the "economy"?
government control of business
a cheap seat at a concert
the management of the resources of a community, country, etc
trying to "con" or fool people
3
What are "consumers"?
people who purchase goods and services
money paid to the government by businesses
people who eat a lot
the people in a store who take your money
4
What is a "salary"?
a cat
a type of vegetable
a service
money paid to an employee for doing their job
5
"What are "Business Costs"?
coupons
vacation days
annoying your friends when you won't give them discounts
The money which must be paid to operate a business
6
Which business made a profit?
Snack Shop: $95 in expenses, sold $102 worth of snacks
Photo Shop: $80 in expenses, sold $30 worth of pictures
Gift Shop: $98 in expenses, sold $89 worth of gifts
Jewelry Shop: $100 in expenses, sold $100 worth of jewelry
7
What is a "good"?
a soccer ball
pizza
an item you can see/touch
all of the above
8
What does "supply/demand" have to do with the price of goods/services?
If supply is high, the price goes up.
If demand is high, the price goes down.
If demand is higher than supply, price goes up.
If demand is higher than supply, price goes down.
9
Business costs = S.M.A.R.T. What do the letters stand for?
supply, materials, ads, rent, taxes
Suzie, Mary, Andy, Ryan, Tex
salaries, materials, ads, rent, taxes
sushi, mavericks, ants, ribs, tables
10
What is "Division of Labor"?
dividing production into many parts workers do only one part
making your sibling do your chores
a math problem
eating only the part of lunch that you like
11
What is the "Free Enterprise System"?
money paid to the government by businesses
where you go to get free stuff
an economy with private business, little government control
an economy controlled by the government
12
What is "Opportunity Cost"?
money paid to the government
the good/service you would like to buy, but can't afford.
the money paid to an employee for doing their job
the money you pay to go to a movie
13
What is "supply"?
money paid to an employee
toys
crayons
the amount of a good/service available
14
What is a "profit"?
money paid to the government by businesses and consumers
free money
a person who predicts the future
The money a business has left after paying business costs
15
What is "Interdependence"?
a new dance craze
the money left over after business costs are paid
Relying on each other
money paid to the government by businesses and consumers
16
What is a "service"?
all of the above
the action of doing work for someone
pizza
soccer ball
17
What is "specialization"?
a fancy bicycle
the money paid to an employee for doing their job
a government employee who collects your taxes
becoming an expert in a particular skill
18
What is "demand"?
the amount of a good/service wanted by consumers
an order from your boss
parsley
items you would like to buy but cant afford
19
What is "scarcity"?
being short in stature
insufficiency or shortness of supply
running away
too much of an item
20
What are "producers?"
people who make, grow or provide goods/services
people who purchase goods/services
government employees who collect taxes
bugs
