BenFranklin BizTown1 Word Scramble
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Question | Answer |
Public Goods and Services | Goods and services paid for with taxes. Many people benefit from these even if they don't pay for them. |
Private Goods and Services | Goods and services that are paid for by the people who are using them. Not paid for with taxes. |
Taxes | Required payments to government. Used to pay for public goods and services. |
Prototype | A model or sample of a product to be made or produced. |
Scarcity | A situation where there is not enough of what people want. |
Free Enterprise | A system in which economic decisions are made in markets by people and businesses, with little government influence. |
Profit | The money that is left over after a business pays all its costs. |
Citizen | A member of a town, city, county, state, or country. |
Community | A place where people live, work, trade, and share. |
Trade | Exchange goods and services - usually for money. |
Business | A company that sells goods and/or services |
Philanthropy | The effort to increase the well-being of people through charitable giving. This is a VERB. |
Nonprofit Organizations | These organizations (businesses) help to increase the well-being of people, education, animals, health, religion and other good causes. Examples are animal shelters, Goodwill, schools. They don't make a profit. |
Opportunity Cost | The value of the next best alternative that you give up when a choice is made. |
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pagelsdc
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