SS - Economics Part 2 (4th Grade)

Question 1

a manufactured good that is used to produce other goods or services (equipment, tools)

Accepted Answer

capital resource

Question 2

the money people pay to support their government

Accepted Answer

taxes

Question 3

a person, company, or country that makes, grows, or supplies goods or commodities for sale

Accepted Answer

producer

Question 4

man who helped improve the assembly line

Accepted Answer

Henry Ford

Question 5

each individual in a group is assigned to do only one part of a big task

Accepted Answer

assembly line

Question 6

thing found in and on the Earth, such as oil, land, and water, that can be used by man

Accepted Answer

natural resources

Question 7

a desire for a good or service by people who are willing to pay for it

Accepted Answer

demand

Question 8

relationship between how much of a product is available and how much of it people want

Accepted Answer

supply and demand

Question 9

a shortage; occurs when wants are greater than the supply

Accepted Answer

scarcity

Question 10

a person who buys a product or a service

Accepted Answer

consumer

Question 11

the skills, knowledge, and other capabilities that people bring to a task

Accepted Answer

human resources

Question 12

a product or service that a business offers for sale

Accepted Answer

supply

Questions 12