3rd grade Social Studies Economic Unit

  1. The person who makes a product.
  2. To trade for goods one needs or wants.
  3. The things a business uses to make or produce a product like computers, machines, and factories.
    Capital resources
  4. A person who buys goods and uses services.
  5. The system of how money is made and used within a particular country or region.
  6. A person who starts and runs their own business.
  7. An economy where government places very few restrictions on businesses.
    free enterprise
  8. The people who work for a business.
    Human resources
  9. The money made when an investor charges for the money that was borrowed.
  10. The person who takes a risk and loans the company money to produce its product.
  11. The God-made materials needed to make a product - like trees, wheat, iron ore...
    Natural Resources
  12. Once a company pays off all their expenses the money that remains.
  13. The amount of a product that is available to the consumer.
  14. How much desire there is for a product amongst the consumer
  15. A huge determiner in prices is to analyze ____.
    Supply and Demand
  16. A card that pulls money directly out of your bank account.
    debit card
  17. A card that allows you to borrow money.
    credit card
  18. 4 departments often used to run a business
    • advertising
    • production
    • sales
    • finances
  19. Who wrote the Declaration of Independence?
    Thomas Jefferson
  20. What did the Declaration of Independence state?
    The colonists wanted freedom from England
  21. What war did the colonists and England fight over the colonists' freedom?
    The Revolutionary War
  22. Who was the king of England during the Revolutionary war?
    George III
  23. Who was the Continental Army General during the Revolutionary War?
    George Washington
Card Set
3rd grade Social Studies Economic Unit
Economics Unit for 3rd grade