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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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Economic

Problems


Economic

Wants





Economic

Problem

Economic

Wants

Production

Budgeting

Culture

Vocabulary

$100

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What is culture?

1 - 100

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1 200
1-200

What is one way

to learn about culture?

$200



1 300
1-300

What do cultures

Borrow from other

Cultures?

$300



1 400
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
2-100

1 - 100

The choice that is given up

when a decision is made

is the _________.

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2 200
2-200

When there is not enough of

something

there is a ___________.

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2 300
2-300

What can you do to help solve

an economic problem?

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2 400
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
Space

$400


2 500
2-500

Joanna chooses to go ice skating over

bowling. The opportunity cost

is ____________.

$500



1 - 100

A consumer is _______

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3 100a
3-100A

1 - 100

Someone who buys goods

and services

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3 200
3-200

The money a person makes to

buy goods and services is called

_________.

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3 200a
3-200A

1 - 100

Income

$200


3 300
3-300

An item that you buy and can

consume or use is called

a _______.

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Good

$300


3 400
3-400

Books, bikes, popcorn,

tables, and cars are all examples of

___________________.

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3 400a
3-400A

1 - 100

Goods

$400


3 500
3-500

When a person does work for

another person it

is a _______.

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Service
Service

1 - 100

$500


4 100
4-100

1 - 100

Resources such as eggs, wheat,

and water are __________.

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Natural resources
Natural Resources

1 - 100

$100


4 200
4-200

Resources that are used over

and over

are ___________.

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Capital resources
Capital Resources.

1 - 100

$200


4 300
4-300

A baker or farmer is an

example of a _____________.

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Human resource
Human Resource

1 - 100

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4 400
4-400

Human, natural, and capital resources

are used to

produce _____________.

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Goods
Goods

1 - 100

$400


4 500
4-500

Name a capital, human, and natural

resource that would be needed to

produce a book.

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Natural wood capital a pen printer human an author publisher
Natural- woodCapital-a pen/printerHuman- an author/publisher

1 - 100

$500


4 500a
4-500A

What is a budget?

1 - 100

$100



5 100a
5-100A

Why would someone need to

make an economic choice?

1 - 100

$200



5 300
5-300 enough money.

How do you make an

economic decision?

$300


Weigh the pros and cons of each option
Weigh the pros and cons of each option. enough money.

1 - 100

$300


5 400
5-400 enough money.

How can you earn extra income.

Give two examples.?

$400



5 500
5-500 enough money.

When budgeting, what is

the first thing you consider?

$500


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

1 - 100

$500


6 100
6-100 you can buy your economic wants.

1 - 100

An _____ is a good transported to

Harford County from

another country.

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Import
Import you can buy your economic wants.

1 - 100

$100


6 200
6-200 you can buy your economic wants.

Scarcity is an example of

an _________________?

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Economic problem
Economic Problem you can buy your economic wants.

1 - 100

$200


6 300
6-300 you can buy your economic wants.

A good that is shipped from

Harford County to another country

is called?

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Export
Export you can buy your economic wants.

1 - 100

$300


6 400
6-400 you can buy your economic wants.

The U.S. sending goods to

China and China sending goods

to the U.S. shows how we are ________

$400


Interdependent
Interdependent you can buy your economic wants.

$400


6 500
6-500 you can buy your economic wants.

Everyone having one job

in the production process

is called ____.

Give one benefit of this.

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6 500a
6-500A you can buy your economic wants.

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 you can buy your economic wants.

for today.

Good luck on

your test!


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