economics word association economy/economics goods products commodity manufacture produce/production...

Economics Word Association• Economy/Economics• Goods• Products• Commodity• Manufacture• Produce/Production• Industry• Tourism/Tourist• Trade• Export• Import• Currency• Consumer• Petroleum• Fossil Fuels• Agriculture• Irrigation• Livestock• Minerals• Poverty

• Jobs and Money• Stuff• Stuff• Stuff• To Make (Stuff)• To Make (Stuff)• (Category of) Jobs• Vacation• Buying and Selling• Sell (to other countries)• Buy (from other countries)• Money (from different countries)• Buyer/User• Oil• Coal, Oil and Natural Gas• Farming and Ranching• Watering• Animals• (Valuable) Rocks• Poor

What is the production, distribution, and use of resources, goods and

services?

Economics

Jobs and Money

What is anything that can be sold for a profit?

Goods

Products

Commodities

Stuff

What is making items to be sold called?

Manufacturing

Producing

Making Stuff

What are the buildings called where manufacturing or producing occurs?

Factories

What are an entire category of jobs called?

Industry

What is the entire category of jobs that provide services to customers

rather than producing products called?

Service Industry

Give an example of a service industry job.

• TeachersTeachers

• AccountantAccountant

• Waiter or WaitressWaiter or Waitress

• DishwasherDishwasher

• MascotsMascots

• etcetc

What industry makes money from people on vacation?

Tourism

What is a person on vacation

called?

Tourist

What is buying and selling of goods and services called?

Trade

What is selling goods to another country called?

Export

Exports exit the country

What is buying goods from another country called?

Import

Imports come into the country

What is money from different countries called?

Currency

What is a person who buys and uses goods, commodities or

products called?

Consumer

What is a simpler word for petroleum?

Oil

What are fuels formed from the prehistoric remains of plants and

animals that died millions of years ago?

Fossil Fuels

Coal, Oil (Petroleum) and Natural Gas

Name the three fossil fuels.

1. Coal

2. Oil (Petroleum)

3. Natural Gas

Do you put natural gas in your car?

No

Gasoline

What is gasoline made from?

Oil

Petroleum

Which fossil fuel is burnt whennon-electric stoves are used?

Natural Gas

What is farming and ranching called?

Agriculture

What is watering crops called?

Irrigation

What is the act of raising animals for food called?

Ranching

What are animals raised for food called?

Livestock

What are valuable inorganic (not alive

nor formed from living beings) materials found naturally in the ground

called?

Minerals

Give an example of a mineral.

Metals

Gold

Copper

Iron Ore

Zinc

Diamonds

What is the process of digging for minerals?

Mining

Is a carrot a mineral?

No

Carrots are organic (alive)

Minerals are inorganic (not alive nor formed from living beings)

What is the condition of being so poor so as to not have the means to afford basic human needs such as clean water, food, clothing, shelter,

health care and education?

Poverty

What are mandatory payments, usually a percentage, placed on income, property value, sales price,

etc for the support of a government?

Taxes

Why do we have to pay $1.07 for a soda that costs $0.99?

Sales Tax

1

Define economics.

The production, distribution, and use of resources, goods and services

Jobs and Money

What are goods, products or commodities?

Anything that can be sold for a profit

Stuff

What is manufacturing or producing?

Making items to be sold

Making Stuff

What are factories?

Buildings where manufacturing or producing occurs

What are industries?

Category of jobs

What are service industries?

Jobs that provide services to customers rather than producing products

What is tourism?

The industry that makes money from people on vacation

What is a tourist? Person on vacation

What is trade?

Buying and selling of goods and services

What are exports?

Goods which are sold to another country

What are imports?

Goods which are bought from another country

What is currency?

Money from different countries

What is a consumer?

Person who buys and uses goods/products/commodities

What is another word for Oil?Petroleum

Oil Wells

What are fossil fuels?

Fuels formed from the prehistoric remains of plants and animals that died millions of years

ago

Coal, Oil and Natural Gas

What are coal, oil and natural gas?

Fossil Fuels

What do you put in your car?

Gasoline

What is gasoline?

Fuel made from oil (Petroleum)

What is agriculture?

Farming and Ranching

What is ranching?

The act of raising animals for food

What is irrigation? Watering crops

What is livestock?

Animals raised for food

What are minerals?

Valuable inorganic (not alive nor formed from living beings) materials found naturally in the

ground

What is mining?

The process of digging for minerals

What is poverty?

The condition of being so poor so as to not have the means to afford basic human needs such as clean water, food, clothing, shelter,

health care and education.

What are taxes?

Mandatory payments, usually a percentage, placed on income, property value, sales price,

etc. for the support of a government

2

What is a synonym for goods?

Products

Commodities

What is a synonym for products?

Goods

Commodities

What is a synonym for commodity?

Goods

Products

What is a synonym for manufacturing?

Producing

What is a synonym for producing?

Manufacturing

Economics Word Association• Economy/Economics• Goods• Products• Commodity• Manufacture• Produce/Production• Industry• Tourism/Tourist• Trade• Export• Import• Currency• Consumer• Petroleum• Fossil Fuels• Agriculture• Irrigation• Livestock• Minerals• Poverty

• Jobs and Money• Stuff• Stuff• Stuff• To Make (Stuff)• To Make (Stuff)• (Category of) Jobs• Vacation• Buying and Selling• Sell (to other countries)• Buy (from other countries)• Money (from different countries)• Buyer/User• Oil• Coal, Oil and Natural Gas• Farming and Ranching• Watering• Animals• (Valuable) Rocks• Poor