Economics Part 4 Miss Abadie 2009. A NEED is something a person must have to live.

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Presentation transcript:

Economics Part 4 Miss Abadie 2009

A NEED is something a person must have to live.

A WANT is something a person would like to have but can live without.

Barter is to trade one kind of goods or service for another.

What were the first coins used by the new United States Government? Copper cents and silver dollars were the first used.

George Washington is on the quarter. Franklin D. Roosevelt is on the dime. Thomas Jefferson is on the nickel. Abraham Lincoln is on the penny.

Natural Resource Something in the environment that can be used.

Technology The development and use of scientific knowledge to solve practical problems.

Rural In small towns or farms.

Urban In the city.

Why did settlers begin moving westward? They moved to find new land.

Why is the US called the Land of the Plenty? The US is filled with natural resources. –Ex. Trees, rich soil, wheat, corn, animals, fish, etc.