Supply and Demand

What are goods?

• items found under a rug
• items found in the ocean
• items that are made and grown
• Work that is done for someone else

What are services?

• Work that someone does for someone else
• Items that are made or grown
• Something that is not real
• Something that is used to do work for someone else

What is a consumer?

• Someone who makes or grows goods or offers services
• someone who makes products
• Something that grows in nature
• Someone who buys goods and services

What is a producer?

• Someone who makes or grows goods or offers services
• someone who eats potato chips
• someone who buys and goods and services
• someone who shops at the store

Which is an example of a natural resource? 

• Computer
• Water
• Counting Money 

What is a plan for using money?

• interest
• budget
• deposits  

What happens when the demand goes up?

• Price increases
• Price drops
• price stays the same

Scarcity is when there is not enough supply of a good.

• True
• False

How do inventors make the changes to the community?

• They write slogans to get their messages across.
• They lay railroad tracks to connect communities.
• They come up with new ideas to improve the way people live and work.
• They lead peaceful marches against unfair laws.

what is wages

• saving money
• buying stuff
• money paid  to an  employee