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Before reading the story or watching the video, review the vocabulary
words below. Then answer the questions that follow.
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Vocabulary of the cave people:
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Fwap-
Fwapper-
Fwat-
Flink-
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Game played by tossing a rock into the air and
hitting it with a club.
Person who played the game of fwap.
Club used to play the game of fwap.
Coin worth about 2 cents.
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Economics vocabulary:
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Marketable product-
Savings-
Invest-
Employee-
Profit-
Dividend-
Stockholders-
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A product that people will buy.
Income that people dontt spend on goods or services so they can
spend it at a later time.
To use money to buy something that will make more money.
A person who works at a business.
Money earned by a business after paying its expenses.
Amount of profit a business pays to its stockholders.
people who invest money in a company and are considered the owners
of it
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Answer the following questions:
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1.
2.
3.
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What product did Ump produce?
Why did he decide to produce it?
How did Umpp's friend, Bunt, help him start his business?
Name 5 resources that were needed to make Ump's product. Label each
resource as natural, human, or capital. A sample is shown. |
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Resource Used
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Natural, Human, or Capital
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A.
B.
C.
D.
E.
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Trees (wood for club)
_______________________
_______________________
_______________________
_______________________
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Natural
________________________
________________________
________________________
________________________
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4.
5.
6.
7.
8.
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Why did Ump decide to make his business larger?
How did Ump get the money to buy the tools and other resources he
needed to make his business larger?
Why were people willing to become stockholders in Umps business?
Name 2 good things that happened because Ump made a larger profit.
Challenge: How did Ump decide how many fwats to make and what price
to charge for them? |
Click here for the answers.
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