Third Grade ECON and ME

Definitions Amish true or false Scarcity Situations Miscellaneous

Row 1, Col 1 People who buy and use goods and services to satisfy economic wants. What are Consumers?

1,2 Amish homes are built by other Amish. What is true?

1,3 Solved by setting limits on the number of crabs that can be caught. What is scarcity of crabs?

1,4 Trading goods for other goods without money. What is bartering?

2,1 People doing physical or mental work to produce goods or services. What are Human Resources?

2,2 Amish people depend on the outside world to build their barns and houses. What is false?

2,3 Solved by camping out in the front yard instead of the overcrowded backyard. What is scarcity of space?

2,4 SALE 25% off all shirts today only! What is an advertisement?

3,1 Goods and services people would like to have. What are Economic Wants?

3,2 Amish people depend on other people outside of the Amish community to help meet their needs. What is true?

3,3 Solved by limiting the number of fish that can be caught and when. What is scarcity of fish?

3,4 Gifts of nature that can be used to produce goods and services. What are natural resources?

4,1 Goods made by people and used to produce other goods and services. What are Capital Resources?

4,2 Amish women help build the barns and houses. What is false?

4,3 Solved by banning campfires and open flames in the woods until more can grow. What is scarcity of trees?

4,4 From to What is technology?

5,1 The next best choice that is given up when a decision is made. What is Opportunity Cost?

5,2 The Amish live and work together in their own communities. What is true?

5,3 Solved by not running the sprinkler or the hose, or washing cars. What is scarcity of water?

5,4 Reliance on others created by specialized workers. What is interdependence?