Needs & Wants
A teddy bear and a new skateboard.
What are wants?
A person who makes an object to sell.
What is a producer?
What are goods?
The business of making new goods from natural materials.
What is manufacturing?
Someone who starts a new business.
Who is an entrepreneur?
Water, food, and clothes.
What are examples of needs?
Going to get a haircut.
What is being a consumer?
Something done for you that you can't or don't want to do yourself.
What is providing a service?
Taking care of others health and well-being.
The money you spend to start your business & buy your supplies.
What are expenses?
Toys, candy, and a bike.
What are examples of wants?
Selling lemonade.
What is being a producer?
Mowing lawns for your neighbors.
What is providing a service?
Hotels, amusement parks, and national parks.
What are things in the tourism industry.
You have spent more than you earned, so you take a ___.
What is a loss?
Something you want to have for fun.
What is a want?
Someone who buys a good or service from another.
What is a consumer?
A dentist.
What is a service provider?
Growing crops or raising animals.
What is agriculture?
The money you earn after you pay your expenses.
What is your profit?
Something you must have to live.
What is a need?
Buying stickers at the store.
What is being a consumer?
Something you buy that you can hold in your hand or take home.
Solving problems or coming up with new designs/ideas.
What is area of research and development?
The money you make when you sell your good or service.
What is your income?