1. Economics is...
The study of money

2. Paper money is called…
currency

3. Money made of metal is called…..
Coins

4. When there is NOT enough of what you want, it is called….
scarcity

5. Things we use to satisfy our wants are called……
resources

6. When there is NOT enough resources to satisfy our wants (keep us happy) it is called….
Limited Resources

7. The best thing you give up to get something else is called…..
Opportunity Cost

8. A person who uses a good or a service is called a….
Consumer

9. Something people want that you can hold or touch is called a…….
Good

10. Something people DO for other people is called a …..
Service

11. The money you earn is called…..
Income

12. Putting resources together to make goods or provide services is called….
Production

13. A PERSON who MAKES a good or provides a service is called a……
Producer

14. Resources found in people, such as their skills or ideas is called…..
Human Resources

15. The things that nature provides like water, minerals, and fish that we use to satisfy our wants are called…..
Natural Resources

16. Good that are used to make other goods or to provide services are called……
Capital Resources

17. Paper money is called…
currency

18. Money made of metal is called…..
Coins

19. I want to buy a Webkinz, but all of the stores are sold out
I want to buy a Webkinz, but all of the stores are sold out. This is called…..
scarcity

20. Food, money, toys, paper, pencils…they all help us do something we want, so they are called….
resources

21. I really want two new shirts, but I only have enough money for one, so I only buy one. The shirt I did not buy was my…..
Opportunity Cost

22. When I buy food at a restaurant or get a haircut, I am being a …..
Consumer

23. Food, candy, football, Webkinz, bike, markers, DVD’s are all…..
Goods

24. Car wash, going to the movies, a haircut, dry cleaning, going to the water park or the zoo are all ……
Services

25. When a factory gets all the parts to make a car, it is called ……
When a chef at a restaurant puts all the ingredients together to make a meal, it is called…
Production

26. Human Resource, Natural Resource or Capitol Resource?
Iron is a ….
Natural Resource

27. Human Resource, Natural Resource or Capitol Resource?
An engineer (someone who designs cars)
Is a ….
Human Resource

28. Human Resource, Natural Resource or Capitol Resource?
A car is a…..
Capitol Resource

29. Human Resource, Natural Resource or Capitol Resource?
Water is a ….
Natural Resource

30. Human Resource, Natural Resource or Capitol Resource?
A school building is a ….
Capitol Resource

31. Human Resource, Natural Resource or Capitol Resource?
A teacher is a ….
Human Resource