Something people need to have to live such as air to breathe and food to eat is called a what?
What is a need.
100
Things that are made, manufactured, or grown like clothes, computers or fruit are known as what?
What are goods.
100
What is a plan for spending and saving money?
What is a budget.
100
You are eating an ice cream cone that you bought while walking home from school. Are you a consumer or a producer?
What is a consumer.
100
True or False: A long time ago there was no such thing as money.
What is true.
200
You have been saving all of your allowance for months to buy a pony. Is a pony a want or a need?
What is a want.
200
Work that someone does for someone else is known as what? (for example, dog walking or a dentist)
What are services.
200
How do people earn money?
Most people earn money from their jobs such as making goods or selling services.
200
You are playing in a sprinkler outside with your best friends. Are you a consumer or producer?
What is a consumer.
200
True or False: Bartering is a good way of getting things.
What is true.
300
A product that is not required for survival is called a what?
What is a want.
300
Someone who makes or grows goods or sells services is known as what?
Who is a producer
300
Your third grade class gets a quarter in a jar every time they behave the entire day. They are planning on spending the money once the jar is full. Are they currently spending or saving the money?
What is saving the money.
300
Your grandparents are drinking coffee at the kitchen table while you watch TV. Are you and your grandparents the producers or consumers?
What is a consumer.
300
True or False: People must decide how much they want for their good or service prior to beginning the bartering process.
What is false.
400
Do communities provide needs or wants?
What is needs. (Examples are hospitals or shelters)
400
Does demand increase or decrease when the price rises
What is the demand increases.
400
When you give money to people or groups, it is called what?
What is a donation.
400
A fireman comes to your school when the fire alarm goes off to make sure everyone got out of the school safely. Is the fireman a producer or consumer?
What is a producer.
400
I am really good at sweeping the floor but my brother is really good at mowing the lawn. We decide to trade jobs so that we can do the jobs that we are good at. Are we bartering?
Yes.
500
Do commercials advertise wants or needs?
What is wants. Commercials advertise wants, such as toys, that are not needed for survival.
500
How do producers and consumers affect each other?
What is the supply and demand of the goods or services must meet what the consumer wants.
500
Should you buy the things you need first, or want first?
Buy the things you need first so that you can use them for survival.
500
The mailman delivers mail to your house every day so that you are able to read the mail that he sent to you. Is he a consumer or producer?
What is a producer.
500
My best friend and I both collect Pokémon cards. He has cards that I really want but I have nothing to trade him in return. If I have nothing to offer to take his cards, are we bartering?