6th grade Soc Sci Unit 3 Economic Activities part 1 | Baamboozle - Baamboozle

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What do we call the people who buy products?

consumers

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 public companies?

the capital belongs to the Government, but the companies meet public needs

What are private companies?

the capital belongs to the people who work for the company

What is consumption?

the use and enjoyment of products

How do companies make a profit?

by producing, distributing and selling products

What are the three components of economic activity?

production, consumption, distribution

How many people work in a large company?

more than two hundred and fifty people

What is the transfer of products?

distribution

What do we use to purchase products and goods?

money

What is economic activity?

People performing tasks to cover their needs, such as food, clothing, services.

How many people work in a small company?

fewer than fifty people

What are savings?

money that we don’t spend but save for future needs

What are mixed companies?

created with capital from individuals and the Government

What are the three types of expenses?

fixed, variable, unexpected

When was the barter system used?

during the Classical Antiquity

What is production?

the creation of products

What are services?

companies dedicated to providing services to satisfy needs: financial, education, health, transport, etc.

How many people work in a medium sized company?

between fifty and two hundred and fifty people

Which companies are dedicated to purchasing and selling products?

trade

How did the barter system work?

goods were exchanged for other goods without using money

6th grade Soc Sci Unit 3 Economic Activities par ...