Unit Three Study Guide Name __________________ Social Studies

Unit Three Study Guide
Social Studies
Name __________________
Test date _______________
Income – money that people earn
Goods – things that people make or grow
Services – jobs that people do to help others
Tax – money collected by a government
 Taxes pay for services and equipment
 Sales tax is an extra amount of money paid for an item which
goes to the government
Factory – a building where goods are produced
Compass rose – shows north, south, east, and west directions on a
map. Some compasses also show northeast, northwest, southeast,
and southwest.
Route – a way to get from one place to another
Trade – to buy, sell, or exchange goods
Transportation – a way of moving goods or people from place to
Examples: bus, car, train, subway, plane
Barter – exchanging goods or services without using money
Needs – things people/animals must have to live
 Shelter
 Water
 Food
 Clothing
 Oxygen
Wants – things people would like to have
 Snickers
 Toys
 Automobiles
 Video games
 Be prepared to name several service workers.