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Culture. Economic Problems. Economic Wants. Production. Vocabulary. Budgeting. Economic Problem. Economic Wants. Production. Budgeting. Culture . Vocabulary. $100. $100. $100. $100. $100. $100. $200. $200. $200. $200. $200. $200. $300. $300. $300. $300. $300.

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Culture


Economic

Problems


Economic

Wants


Production


Vocabulary


Budgeting


Economic

Problem

Economic

Wants

Production

Budgeting

Culture

Vocabulary

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What is culture?

1 - 100

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A group of people’s way of life.

1 - 100

$100


1-200

What is one way

to learn about culture?

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Television, radio, movies, texts, internet…

1 - 100

.

$200


1-300

What do cultures

Borrow from other

Cultures?

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Food, dance, clothing, music…

1 - 100

$300


1-400

Give one way

that you could show

respect to someone

from another country.

$400


Answers Vary:

Introduce yourself

Invite them to work with you

Play with them at recess

1 - 100

$400


Give 3 of the

elements of culture.

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Clothing

Food

Transportation

Shelter

Recreation

Personal care

Family

Tradition

1 - 100

$500


2-100

1 - 100

The choice that is given up

when a decision is made

is the _________.

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Opportunity Cost

$100


2-200

When there is not enough of

something

there is a ___________.

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Scarcity

$200


2-300

What can you do to help solve

an economic problem?

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Make a list of pros and cons for each decision

$300


2-400

If one group wants to build a mall

and another group wants to build a

factory there is a scarcity of _______.

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Space

$400


2-500

Joanna chooses to go ice skating over

bowling. The opportunity cost

is ____________.

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Bowling

$500


1 - 100

A consumer is _______

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3-100A

1 - 100

Someone who buys goods

and services

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3-200

The money a person makes to

buy goods and services is called

_________.

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3-200A

1 - 100

Income

$200


3-300

An item that you buy and can

consume or use is called

a _______.

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Good

$300


3-400

Books, bikes, popcorn,

tables, and cars are all examples of

___________________.

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3-400A

1 - 100

Goods

$400


3-500

When a person does work for

another person it

is a _______.

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Service

1 - 100

$500


4-100

1 - 100

Resources such as eggs, wheat,

and water are __________.

$100


Natural Resources

1 - 100

$100


4-200

Resources that are used over

and over

are ___________.

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Capital Resources.

1 - 100

$200


4-300

A baker or farmer is an

example of a _____________.

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Human Resource

1 - 100

$300


4-400

Human, natural, and capital resources

are used to

produce _____________.

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Goods

1 - 100

$400


4-500

Name a capital, human, and natural

resource that would be needed to

produce a book.

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Natural- woodCapital-a pen/printerHuman- an author/publisher

1 - 100

$500


4-500A

What is a budget?

1 - 100

$100


A plan for how you will save and spend your money.

$100


5-100A

Why would someone need to

make an economic choice?

1 - 100

$200


You would need to make an economic choice if you do not have enough money.

$200


5-300

How do you make an

economic decision?

$300


Weigh the pros and cons of each option.

1 - 100

$300


5-400

How can you earn extra income.

Give two examples.?

$400


Mow the grass, do chores, walk the dog, get a gift

$400


5-500

When budgeting, what is

the first thing you consider?

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You need to consider you necessary expenses (needs) and then you can buy your economic wants.

1 - 100

$500


6-100

1 - 100

An _____ is a good transported to

Harford County from

another country.

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Import

1 - 100

$100


6-200

Scarcity is an example of

an _________________?

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Economic Problem

1 - 100

$200


6-300

A good that is shipped from

Harford County to another country

is called?

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Export

1 - 100

$300


6-400

The U.S. sending goods to

China and China sending goods

to the U.S. shows how we are ________

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Interdependent

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6-500

Everyone having one job

in the production process

is called ____.

Give one benefit of this.

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6-500A

1 - 100

Specialization

Not everyone has to learn

all of the jobs; you

get fast at your job; can

produce more goods.

$500


That's all

for today.

Good luck on

your test!


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