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
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
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
Human Resources- The work people do to produce goods
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.