Social: Resources Essential Vocabulary

Good day all! As you are well aware I'm sure, this week we are finishing up on the basic knowledge of our social Resources & Wealth unit before we begin our project. We are going to be participating in team challenges this week, as well as write a quiz on Thursday. On the quiz, students will need to be able to define the following terms. I've provided the definitions in case students have misplaced their versions.

1. Barter - The exchange of goods or services for other goods or services without the exchange of money. Also could include the act of debating the price of those goods. 

2. Trade - The exchange or buying and selling of goods and services in a market.

3. Economy - The wealth and resources of a region or country, including the production and consumption of goods and services. 

4. Wealth - Accumulated goods, possessions, or riches.  

5. Natural Resources - The raw materials or components of a finished product that are provided by the earth. 

6. Renewable Resources - A resource that replaces itself if carefully managed.

7. Non-Renewable Resources - A resource, such as oil or gas, that cannot be replaced once it is used up. 

8. Supply & Demand - We call our needs the DEMAND, and natural resources are the SUPPLY. Higher demand and lower supply equals higher prices. 

9. Steward - A person who cares for the land or for other people.

10. Environmental Stewardship - Careful management of resources to ensure that they are sustainable. 

11. Sustainability - An approach to development, economics, or society that considers the environment and tries to avoid wasting or using up natural resources, so that future generations will be able to meet their needs.  

Today we will update our notes with the work (and homework) you did yesterday to ensure that we are all on the same page. I will update this post when we have the definitions completed.