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6th grade Soc Sci Unit 3 Economic Activities par ...
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How many people work in a small company?
fewer than fifty people
How many people work in a medium sized company?
between fifty and two hundred and fifty people
How many people work in a large company?
more than two hundred and fifty people
What are public companies?
the capital belongs to the Government, but the companies meet public needs
What are mixed companies?
created with capital from individuals and the Government
What are private companies?
the capital belongs to the people who work for the company
Which companies are dedicated to purchasing and selling products?
trade
What are services?
companies dedicated to providing services to satisfy needs: financial, education, health, transport, etc.
What is industry?
companies dedicated to extracting natural resources and transforming them into other products
What is used to convince us that we need to buy something?
advertising
What are savings?
money that we don’t spend but save for future needs
How did the barter system work?
goods were exchanged for other goods without using money
When was the barter system used?
during the Classical Antiquity
What do we use to purchase products and goods?
money
What are the three types of expenses?
fixed, variable, unexpected
What do we call the people who buy products?
consumers
How do companies make a profit?
by producing, distributing and selling products
What is consumption?
the use and enjoyment of products
What is the transfer of products?
distribution
What is production?
the creation of products
What are the three components of economic activity?
production, consumption, distribution
What is economic activity?
People performing tasks to cover their needs, such as food, clothing, services.


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