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Social Studies
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Social Studies: Unit 6 : People in the Marketplace In this unit we will read about and answer the following questions: How do producers and consumers depend on each other? How do people get money to pay for goods and services? How do raw materials become products? Why do we make, sell, and buy more of some things than others? How does trade help people meet their needs? Vocabulary Terms Consumer- a person who buys goods or services A person who owns a business makes or sells goods or provides services. Producer- a worker who grows, makes, or sells products Services- work people do for others Goods- things that can be bought or sold Wants- things people would like to have Occupation- a job a person works at to earn money Free Enterprise- the freedom to start and run a business to make money Income- the money people earn Scarce- if there is not enough of something Marketplace- where goods and services are bought and sold Factory- a building in which people use machines to make goods Capital Resources- all of the tools used to produce a good Raw Materials- natural resources used to make a product Trade- the exchange of one thing for another Barter- to exchange things without using money Human Resources- work people do
Riverside Elementary West
Mrs. Rosser's 2nd Grade Class
Room 102
308 Davis Street
Taylor, PA 18517
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