How Much Money?
Add these coins: one quarter (25¢) + one dime (10¢). How much money?
35 cents
If a store only has one bottle of lemonade left but many kids want it, is the lemonade scarce or in surplus?
What do you call money you keep for later instead of spending right now?
Savings
If more people want ice cream on a hot day, demand goes up or down?
The demand goes up.
Is a haircut a service or a good?
Service
If you have $2.50 and you find another $1.25, how much do you have now?
$3.75
If a farmer grows too many apples and no one buys them, is that a scarcity or a surplus?
The apples are a surplus.
If you buy a toy now, you are doing this with your money. What is it?
Spending
If demand for a toy goes down, what might stores do with the price to get people to buy it?
They will lower the price.
Is a loaf of bread a service or a good?
Good
Add: $4.75 + $3.20.
$7.95
Explain in one sentence why scarcity happens
When the supply of something is low and the demand is high.
If you give money to help people or a charity, what is that called?
Donating
If a new toy factory makes many, many toys, supply goes up or down?
The supply goes up
Give one example of a local service
Urban Air
After school Tutoring
Dance class
Soccer lessons
You have three $5 bills and two $1 bills. How much money do you have total?
$17
If a popular toy is scarce during the holidays, what might happen to the price? (higher or lower?)
The price of the toy will go higher.
Name one good reason to save money instead of spending it right away.
To save up for something big or incase of emergency.
To plan for the future.
To be mindful about money.
Explain in one simple sentence how price can change when supply is low and demand is high.
If the supply is low and demand is high, the price will rise.
If the supply is high and the demand is low, the price will drop.
Explain the difference between a good and a service.
A service is something that a person can provide another person. A good is an item you can buy.
Mia has $6.40. She saves $2.35 more. How much money does she have now?
$8.75
Give an example from your life when you felt something was scarce (one sentence).
Example of when you wanted something but they was little left or the price was too high.
You have $8 and you want a $15 game. How much more money do you need? What could you do to get the money?
You need $7 dollars, which you can get from working (chores), saving, or allowance/celebrations.
A store has few scooters and many kids want them. What might happen to the scooter price and why?
Name a good you buy and a service you pay for related to that good.
You can buy a skateboard and have skateboard lessons.
You can buy cleats and join a soccer club.