Goods and Services
Something you buy or use
What is a good?
A person who buys or uses goods or services
Who is a consumer ?
Things we must have to stay alive
What is needs?
The amount of something available to consumers
What is supply?
When supply goes up, demand goes _______
What is down?
An action someone does for someone else
What is a service?
Name an example of a consumer
What is a ________ ?
shopper at a store, patron at a restaurant, etc.
Give 4 examples of a need
What is shelter, water, food, clothing
How much consumers want something
What is demand?
When demand goes down, supply goes ________
What is up?
Give an example of a good
What is __________ ?
A person who makes/sells goods or provides services, or sells
What is a producer?
Things we would like to have but do not need for survival
What is a want?
Enough to meet demand
What is available?
When supply goes up, the price might go _______
What is down?
Give an example of a service
What is ____________?
Name an example of a producer
mechanic, pilot, teacher, janitor, baker, etc.
Give 4 examples of a want
What are____________?
accept any reasonable answers
Not enough to meet demand
What is scarce?
When the demand goes up, the price might go _____
What is up?
Name a community helper that provides a service
Who is ______________?
firefighter, hair dresser, police officer, teacher, etc.
Give an example of a time you were a consumer
Accept any reasonable answer
You can use _______ to buy, or purchase, items you need or want.
What is money?
Give an example of an item/time that has high demand and low supply
What is _______________?
Playstation 5, Covid:toilet paper, hand sanitizer, or hurricane: bread, water, etc
You can ________ or trade for an item without using money.
What is barter?