To Market To Market Here, There, Everywhere I'm In the Money! Risky Business Economic Resources
100
What is a consumer
Someone who buys or uses something
100
What is Import
To BRING IN goods from other countries to sell
100
What is money
A means of exchange
100
What is an entrepreneur
A person who starts a business of their own
100
What is Natural Resources?
Something from nature that people can use
200
What is a producer
Someone who makes or grows something
200
What is export
To SHIP OUT goods to other countries to sell
200
What is a bank
An institution that holds your money and lends it to others
200
What is supply
How much of a product that is available
200
What is human resources
The workers that produce goods or services
300
What is mass production
Many goods that are alike that can be made quickly and cheaply using machines
300
What is interstate trade
Buying and selling between states
300
What is income
The money you earn from a job
300
What is demand
How much people are wanting/needing something
300
What is capital resources
The tools or buildings that businesses use
400
What is Free Market Economy
An economy in which people can freely buy and trade goods and services
400
What is international trade
Buying and selling between countries
400
What is save
To put aside money for later
400
What is scarcity
When a supply of a good or service is not enough to meet the demand
400
What is renewable resource
A resource that can be made again by people or nature
500
What is opportunity cost
When you give up something to have something else. It's the next best choice
500
What is economic interdependence
The way in which people depend on one another for goods and services
500
What is invest
To put money into a business in hopes that it will grow and yield a profit
500
What is Profit
The amount of money you make after all expenses are paid
500
What is nonrenewable resource
A resource that cannot be made again quickly by nature or people






Economics and Financial Literacy NC Grade Three

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