Grade 2 Social Studies
Student Vocabulary Cards – Unit 2
economic wants
goods
goods and services
people would like to have
things that people make or grow
that satisfy economic wants
U2Preview
U2Preview
services
taxes
actions (jobs) that people
do for each other
money provided to the government
so it can provide some goods and
services
U2Preview
U2L1
community services
factory
services provided
in the community
a place where people
make goods
U2L1
U2L2
product
business
a good or service
made with resources
a place where people make or sell
goods or give services
U2L2
U2L3
1
Grade 2 Social Studies
Student Vocabulary Cards – Unit 2
trade
transportation
to give money, goods, or services
to get something in return
any way of moving people
or things place to place
U2L4
U2L4
producer
consumers
a person who makes
or grows something
people who buy and use goods
and services to meet
economic wants
U2L6
U2L6
income
choice
money that people earn
for their work
the right or chance
to choose
U2L7
U2L7
opportunity cost
bank teller
the next best (second-best) choice
that is given up when a decision
(choice) is made
a person in a bank
who receives and pays out money
U2L8
U2L9
2
Grade 2 Social Studies
Student Vocabulary Cards – Unit 2
insurance
limited resources
protection against loss or damage
not having enough resources to
produce all the goods and services
that people want
U2L9
U2L10
production
natural resources
the process of making a product,
either a good or a service
gifts of nature that can
be used to produce goods
and services
U2L11
U2L11
natural environment
technology
physical setting of a
place including the land, air,
water, plants, and animals
tools, machines, methods, and
other things used to perform
activities
U2L12
U2L12
crop
specialized work
a kind of plant that people grow
for food or other uses
a job or a part of a job
U2L12
U2L13
3
Grade 2 Social Studies
Student Vocabulary Cards – Unit 2
human resources
capital resources
people doing physical or mental
work to produce goods or services
goods made by people and used to
produce other goods and services
U2L14
U2L14
4