VOCABULARY Economics Natural resources Goods/products Barter Trade Supply Demand Scarcity surplus.
-
Upload
madisen-denton -
Category
Documents
-
view
219 -
download
0
Transcript of VOCABULARY Economics Natural resources Goods/products Barter Trade Supply Demand Scarcity surplus.
![Page 1: VOCABULARY Economics Natural resources Goods/products Barter Trade Supply Demand Scarcity surplus.](https://reader036.fdocuments.us/reader036/viewer/2022062404/5516652c5503469d698b52e7/html5/thumbnails/1.jpg)
VOCABULARY
• Economics• Natural resources• Goods/products• Barter• Trade• Supply• Demand• Scarcity• surplus
![Page 2: VOCABULARY Economics Natural resources Goods/products Barter Trade Supply Demand Scarcity surplus.](https://reader036.fdocuments.us/reader036/viewer/2022062404/5516652c5503469d698b52e7/html5/thumbnails/2.jpg)
Supply• Noun- the amount of something that is
available. What you have.
![Page 3: VOCABULARY Economics Natural resources Goods/products Barter Trade Supply Demand Scarcity surplus.](https://reader036.fdocuments.us/reader036/viewer/2022062404/5516652c5503469d698b52e7/html5/thumbnails/3.jpg)
Demand
Demand (noun) –What people want.
There is a demand for Skittles and Jolly Ranchers. Everybody loves them.
Idiomatic expression: in demand –wanted by many people.
Air conditioners are always in demand at the beginning of the hot season. Lots of people are buying them.
![Page 4: VOCABULARY Economics Natural resources Goods/products Barter Trade Supply Demand Scarcity surplus.](https://reader036.fdocuments.us/reader036/viewer/2022062404/5516652c5503469d698b52e7/html5/thumbnails/4.jpg)
What is everybody buying?What’s the demand?
![Page 5: VOCABULARY Economics Natural resources Goods/products Barter Trade Supply Demand Scarcity surplus.](https://reader036.fdocuments.us/reader036/viewer/2022062404/5516652c5503469d698b52e7/html5/thumbnails/5.jpg)
Supply and Demand
• What people want compared to what is available.
These kids want chairs. There aren’t enough.The supply is low. The demand is high.
![Page 6: VOCABULARY Economics Natural resources Goods/products Barter Trade Supply Demand Scarcity surplus.](https://reader036.fdocuments.us/reader036/viewer/2022062404/5516652c5503469d698b52e7/html5/thumbnails/6.jpg)
Scarcity• Scarcity (noun)- Not enough. Rare.• Example: There is a scarcity of sun stones.
Some people have to rub sticks for fire.
![Page 7: VOCABULARY Economics Natural resources Goods/products Barter Trade Supply Demand Scarcity surplus.](https://reader036.fdocuments.us/reader036/viewer/2022062404/5516652c5503469d698b52e7/html5/thumbnails/7.jpg)
Surplus
• Noun –too much, extra or more than you need
![Page 8: VOCABULARY Economics Natural resources Goods/products Barter Trade Supply Demand Scarcity surplus.](https://reader036.fdocuments.us/reader036/viewer/2022062404/5516652c5503469d698b52e7/html5/thumbnails/8.jpg)
Trade
• Noun – exchanging items.• Example: We made the trade. I gave you my
8-ball for your woolly mammoth book.
• Verb: to exchange items• Example: I will trade you my sunstone for your
spearthrower.
![Page 9: VOCABULARY Economics Natural resources Goods/products Barter Trade Supply Demand Scarcity surplus.](https://reader036.fdocuments.us/reader036/viewer/2022062404/5516652c5503469d698b52e7/html5/thumbnails/9.jpg)
Barter
• Verb- To trade without the using money
• Example: People bartered fish for grain.
![Page 10: VOCABULARY Economics Natural resources Goods/products Barter Trade Supply Demand Scarcity surplus.](https://reader036.fdocuments.us/reader036/viewer/2022062404/5516652c5503469d698b52e7/html5/thumbnails/10.jpg)
Bartering
![Page 11: VOCABULARY Economics Natural resources Goods/products Barter Trade Supply Demand Scarcity surplus.](https://reader036.fdocuments.us/reader036/viewer/2022062404/5516652c5503469d698b52e7/html5/thumbnails/11.jpg)
goods/products
• Nouns- Things for sale; something that is made to be sold
![Page 12: VOCABULARY Economics Natural resources Goods/products Barter Trade Supply Demand Scarcity surplus.](https://reader036.fdocuments.us/reader036/viewer/2022062404/5516652c5503469d698b52e7/html5/thumbnails/12.jpg)
Natural Resources
• Noun- something to use from nature
• Example: 2 natural resources from China are coal and wood.
![Page 13: VOCABULARY Economics Natural resources Goods/products Barter Trade Supply Demand Scarcity surplus.](https://reader036.fdocuments.us/reader036/viewer/2022062404/5516652c5503469d698b52e7/html5/thumbnails/13.jpg)
Natural Resources
![Page 14: VOCABULARY Economics Natural resources Goods/products Barter Trade Supply Demand Scarcity surplus.](https://reader036.fdocuments.us/reader036/viewer/2022062404/5516652c5503469d698b52e7/html5/thumbnails/14.jpg)
EconomicsEverything that has to do with money. The way we trade, buy, sell, make things,
use and decide value.
![Page 15: VOCABULARY Economics Natural resources Goods/products Barter Trade Supply Demand Scarcity surplus.](https://reader036.fdocuments.us/reader036/viewer/2022062404/5516652c5503469d698b52e7/html5/thumbnails/15.jpg)
![Page 16: VOCABULARY Economics Natural resources Goods/products Barter Trade Supply Demand Scarcity surplus.](https://reader036.fdocuments.us/reader036/viewer/2022062404/5516652c5503469d698b52e7/html5/thumbnails/16.jpg)
![Page 17: VOCABULARY Economics Natural resources Goods/products Barter Trade Supply Demand Scarcity surplus.](https://reader036.fdocuments.us/reader036/viewer/2022062404/5516652c5503469d698b52e7/html5/thumbnails/17.jpg)
![Page 18: VOCABULARY Economics Natural resources Goods/products Barter Trade Supply Demand Scarcity surplus.](https://reader036.fdocuments.us/reader036/viewer/2022062404/5516652c5503469d698b52e7/html5/thumbnails/18.jpg)
![Page 19: VOCABULARY Economics Natural resources Goods/products Barter Trade Supply Demand Scarcity surplus.](https://reader036.fdocuments.us/reader036/viewer/2022062404/5516652c5503469d698b52e7/html5/thumbnails/19.jpg)
![Page 20: VOCABULARY Economics Natural resources Goods/products Barter Trade Supply Demand Scarcity surplus.](https://reader036.fdocuments.us/reader036/viewer/2022062404/5516652c5503469d698b52e7/html5/thumbnails/20.jpg)
![Page 21: VOCABULARY Economics Natural resources Goods/products Barter Trade Supply Demand Scarcity surplus.](https://reader036.fdocuments.us/reader036/viewer/2022062404/5516652c5503469d698b52e7/html5/thumbnails/21.jpg)