Unit 4 4 th Grade Social Studies Vocabulary

1. Unit 44th Grade Social StudiesVocabulary Click here to go to begin

2. scarcity Definition: not enough yes irrigation no Unlimited wants Click here to go to the next question. no

3. Human resources Definition: There are only certain amounts of resources. no Limited resources yes minerals Click here to go to the next question. no

4. scarcity Definition: There is no end to the number of things people want and need. no Unlimited wants yes Human resources Click here to go to the next question. no

5. movement Definition: workers and their skills. no Unlimited wants no Human resources Click here to go to the next question. yes

6. Circular Flow Definition: Things in nature that people see as useful no Natural Resources yes Income Click here to go to the next question. no

7. demand Definition: Things that are used to produce more goods and services no economics no Capital resources Click here to go to the next question. yes

8. Opportunity cost Definition: when you make a choice, your opportunity cost is the second thing you want most. yes economics no Capital resources Click here to go to the next question. no

9. Income Definition: The study of how individuals and societies use their scarce resources to get goods and services No Circular Flow No Economics Click here to go to the next question. Yes

10. Economic Definition: A system a society uses to answer the basic economic questions such as what to produce. NO! Demand NO! Economic System Click here to go to the next question. Yes!

11. producer Definition: the kind of economic system we have in our country no Market economy yes profit Click here to go to the next question. no

12. Producer Definition: someone who makes goods or provides services yes Market economy no profit Click here to go to the next question. no

13. consumer Definition: someone who buys goods or services yes profit no producer Click here to go to the next question. no

14. Definition Definition: money or value gained No profit yes consumer Click here to go to the next question. no

15. economic Definition: consumers’ willingness and ability to purchase a good or service no Capital resources no demand Click here to go to the next question. yes

16. economic Definition: the amount of product or service that is available for consumers to buy no supply yes demand Click here to go to the next question. no

17. demand Definition: When businesses sell the same good or service no Competition yes exchange Click here to go to the next question. no

18. Competition Definition: the consumer is king sinceconsumer decisions determine what is produced no exchange no Consumer sovereignty Click here to go to the next question. yes

19. Human resources Definition: trading goods and services with others for other goods and services or for money no Consumer sovereignty no exchange Click here to go to the next question. yes

20. Human resources Definition: Workers and their skills. yes exchange no income Click here to go to the next question. no

21. Circular flow Definition: Money people earn by working. no income yes Human resources Click here to go to the next question. no

22. economic Definition: the pattern in which goods and services and resources flow in the marketplace no Capital resources no Circular Flow Click here to go to the next question. yes

23. Substitute goods Definition: what people pay when they buy a good or service NO! price yes incentive Click here to go to the next question. No!

24. Incentive Definition: A good that can be used in place of another good. NO Substitute Goods YES Click here to go to the next question. Price NO

25. consumers Definition: rewards or penalties used to encourage people behave in predicable ways no sales no incentive Click here to go to the next question. yes

26. groceries Definition: when individuals, regions, and countries produce certain kinds of goods or services no specialization yes Cell phone Click here to go to the next question. no

27. Economic System Definition: When the production of a good is broken down into many small jobs, each done by different workers. NO! economic NO! Division of labor Click here to go to the next question. Yes!

28. Private goods and services Definition: the amount of goods and services produced no Public goods and services no productivity Click here to go to the next question. yes

29. Export Definition: A good that people in one country sell to people in another country Yes Import No Public goods and services Click here to go to the next question. NO

30. Import Definition: a good that people in one country buy from people in another country. Yes Export No Employed Click here to go to the next question. no

31. import Definition: A person with a job no employed Yes unemployed Click here to go to the next question. no

32. Labor Force Definition: A person who is jobless, looking for a job, and available for work. no employed no unemployed Click here to go to the next question. yes

33. unemployed Definition: people who are working or looking for work no employed no Labor force Click here to go to the next question. yes

34. productivity Definition: Goods and services that are produced by a government. no unemployed no Public goods and services Click here to go to the next question. yes

35. sales Definition: goods and services that are produced privately and sold to consumers no Private goods no Private goods and services Click here to go to the next question. yes

36. government Definition: what people pay to a government in exchange for public goods and services no taxes yes pay Click here to go to the next question. no