1. Economics 6th Grade

2. People and/or companies which make and supply goods and services.
producer
People and/or companies which make and supply goods and services.

3. to satisfy wants and needs.
consumer
Use goods and services
to satisfy wants and needs.

4. Production of goods and services involves three types of resources
productive resources
Production of goods and services involves three types of resources
natural resources (nature)
pencil are trees/wood
human resources (labor)
machine operator (human)
capital resources (capitol, labor)
(man-made -tools, machines, etc.) 
lathe

5. economic interdependence
Mutually dependent on each other financially.

6. goods
Something that you can touch or hold that consumers want that are supplied by producers. 

7. services Services are things you cannot hold
but that consumers want or need
that are produced in the economy. 
Examples of services include teaching, medical services, and counseling.  

8. specialization Efficiency is increased when businesses, individuals
or countries produce the goods and services at
which they are best, leaving the production of
other goods to others. 
Individuals specialize in jobs they do best too.

9. profit After producing & selling a good or service,
profit’s the difference between revenue & cost of production.
If costs are greater than revenue, profit is negative there’s a loss.

10. resource An aspect of the physical environment
that people value and use.

11. scarcity
Not being able to have everything wanted making necessary choices; when supply is less than demand.

12. supply
The quantity of resources, goods, or services that sellers offer at various prices at a particular time.

13. demand
The number of consumers willing and able to purchase a good or service at a given price.

14. opportunity cost
In making a decision, the most valuable alternative not chosen.

15. necessities (food, clothing, shelter)
needs
necessities (food, clothing, shelter)

16. trade The exchange of goods or services for
other goods and services or money.

17. wants
Desires that can be satisfied by consuming a good, service, or leisure activity.

18. Something that satisfies one’s wants.
benefit
Something that satisfies one’s wants.

19. Promising to repay a given amount of money, often with added interest.
borrowing
Promising to repay a given amount of money, often with added interest.

20. budget
Sum of money allocated for a particular use; plan for saving & spending money.

21. Something that is given up to satisfy your wants.
cost
Something that is given up to satisfy your wants.

22. income Financial gain received as wages/salaries,
rent, interest, and/or profit.

23. The use of money to buy goods and services.
spending
The use of money to buy goods and services.

24. Science applied to achieve practical purposes.
technology
Science applied to achieve practical purposes.

25. trade-off Getting less of one thing in order
to get a little more of another.

26. Contest Directions
Select one of the following concepts and in pencil draw a picture depicting the topic. Write the topic somewhere on the front.
Producers & Consumers
Productive Resources (human, natural, capital)
Opportunity Costs
Scarcity
Goods and Services
Specialization
Supply and Demand
Make your poster on a regular blank sheet of paper.
On the BACK of the paper, in pencil write:
Student name (first and last)
6th Grade
Roesland Elementary
4900 Parish Drive, Roeland Park, KS
Michelle Tapko

27. Past Winning Posters

28. Past Winning Posters

29. Past Winning Posters

30. Past Winning Posters

31. Past Winning Posters

32. Past Winning Posters

33. Past Winning Posters

34. Past Winning Posters

35. Teacher’s Notes Entry Form
Entry Form