Vocabulary to help study :)
Quiz yourself by thinking what should be in
each of the black spaces below before clicking
on it to display the answer.
Help!
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| Economics | show 🗑
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| show | Things that we can touch and/or use
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| Services | show 🗑
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| show | People and businesses that sell/make goods or services
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| show | People who use or buy those goods or services given by a producer
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| Trade | show 🗑
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| Barter | show 🗑
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| show | An organized way for producers and consumers to trade goods/services
Typically involves cash but not always
Can be digital
i.e supermarket
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| show | Who a product is meant for, who the target audience is
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| show | How many of the product should be produced
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| How | show 🗑
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| show | What a company should produce or provide (based off of wants and needs)
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| Factors of Production | show 🗑
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| Land | show 🗑
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| show | Human effort to produce things, people who are payed to do a certain job
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| Capital | show 🗑
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| Entrepreneurship | show 🗑
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| Supply | show 🗑
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| Demand | show 🗑
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| show | If you have a low supply and high demand, producers will make the price higher and make more of the good or service.
If there is a large supply but low demand, producers will decrease the price and make less of the good
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| show | Limited resources to meet unlimited wants and needs
There is a scarcity of water in a desert
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| show | What you gave up when making an opportunity
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| show | a factor encouraging people to act a certain way
money: to work a job
good grades: to study
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Review the information in the table. When you are ready to quiz yourself you can hide individual columns or the entire table. Then you can click on the empty cells to reveal the answer. Try to recall what will be displayed before clicking the empty cell.
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If you know all the data on any row, you can temporarily remove it by tapping the trash can to the right of the row.
To hide a column, click on the column name.
To hide the entire table, click on the "Hide All" button.
You may also shuffle the rows of the table by clicking on the "Shuffle" button.
Or sort by any of the columns using the down arrow next to any column heading.
If you know all the data on any row, you can temporarily remove it by tapping the trash can to the right of the row.
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