Social Studies

  • Unit 6  People in the Marketplace

     

    Lesson 1:  Producers and Consumers

      Producer-  A worker grows, makes, or sells products.

      Services-  Work people do for others.

      Business-  The making or selling of goods or services.

      Goods-  Things that can be bought or sold.

      Consumer-  A person who buys and uses goods and

    services.

     

    Lesson 2:  Work and Income

    Income-  The money people earn for the work they do.

    Free Enterprise-  The freedom to start and run any kind

    of business.

    Occupation-  The work a person does to earn money.

    Wants-  Things people would like to have.

     

    Lesson 3:  From Factory to You

    Factory-  A building in which people use machines to 

    make goods.

    Human Resources-  The work people do to produce goods

    and services.

    Raw Material-  A resource used to make a product.

    Capital Resources-  All of the tools used to produce

    goods and services.

     

     

    Lesson 4:  How Much and How Many

    Scarce-  Hard to find because there is not much of it.

    Marketplace-  A place where goods and services are

    bought and sold.

     

    Lesson 5:  Barter and Trade

    Trade-  The exchange of one thing for another.

    Barter-  To exchange something without using money.