| Vocabulary | ||
| #1 | To bring in products and resources from another country to sell is an . . ? | import |
| #2 | Someone who makes a product is called a . . ? | producer |
| #3 | The amount of goods offered for sale by a business is called . .? | supply |
| #4 | Money that is used to start or add to a business is called . . ? | capital |
| #5 | The freedom to start a business and to make and sell for profit any product or service allowed by law is called a . .? | free enterprise |
| More Vocabulary | ||
| #1 | To send a product or resource from one country to another to be sold is an . .? | export |
| #2 | A person who buys a product is called a . .? | consumer |
| #3 | The desire or need for a product or service is called a . . ? | demand |
| #4 | The exchange of one kind of product or service for another is known as . . ? | trade |
| #5 | A plan for using money is called . .? | budget |
| Good or Service | ||
| #1 | You went to Walmart to buy Easter candy. Did you get a good or a service? | Good |
| #2 | Your mom takes you to the dentist to get your tooth filled because you have a cavity. Did you get a good or a service? | Service |
| #3 | Your dad goes to Best Buy to purchase a new video game for your birthday. Does he get a good or a service? | Good |
| #4 | Mrs. Giles pays $30 each week to have her lawn mowed in the summer. Does she get a good or a service? | Service |
| #5 | You call the florist to send flowers to your grandma who lives in California for her birthday. Did you get a good or a service? | Service |
| Is it 'This' or 'That'? | ||
| #1 | Aden and Trevor want to buy 10 cans of soda. There are only 6 cans of soda left. Scarcity or No Scarcity? | Scarcity |
| #2 | Josie is hungry for some candy. She goes to the store and buys a bag of Snickers for $2.98. Barter or Exchanging Money? | Exchanging Money |
| #3 | Kaleb is eating lunch at school and runs out of carrot sticks. He gives Katie his grapes for some of her carrot sticks. Barter or Exchanging Money? | Barter |
| #4 | Karis wants to bring bunny cookies for her class before Spring Break. She needs 25 cookies. Her mom says she baked 30 cookies. Scarcity or No Scarcity? | No Scarcity |
| #5 | Payton just got a new Seattle Seahawk hat for her birthday. The product tag on it says 'Made in China'! Would the hat be an import or an export? | Import |
| Pot Luck! | ||
| #1 | Someone who starts and runs a business is called an . . ? | Entreprenur |
| #2 | Why was Henry Ford able to sell more cars at a lower price? | The assembly line helped him make cars faster and cheaper. |
| #3 | When planning a budget, what two things should you include? | The money you earn and the money you spend. |
| #4 | If there is a great demand for the newest PS4 game and there is a low supply of it, what will happen to the price of the game? | The price will be very high! |
| #5 | Give three ways goods are moved around the world? | Ships, Trains, and Airplanes |
| Final Question | |
| Because of the assembly line, Ford could now build a car in how many minutes? What restaurant stole Henry Ford's idea of the assembly line to help produce their food products? | Henry Ford could build a car in 93 minutes. McDonald's stole Ford's idea of the assembly line. |