Who dat???
Name a service worker.
Police officers, librarians, school nurses, taxi drivers, CASHIERS.
A skill is
a. learning something
b. knowing how to do something
c. being nice
B! Knowing how to do something!
What does trade mean?
a. to exchange goods or services with someone else
b. to buy from the store
c. to give away your things
A. to exchange goods or services with someone else
a. The amount of the good that is actually there
b. The amount of the good about to be ordered.
c. The amount of the good that other stores have
A. The amount of the good that is actually there.
What is savings?
Money you do not spend right away.
A teacher is a service worker.... True or false?
True!!!
What is a skill?
A skill is knowing how to do something.
True or False!
Giving something away for free is trade.
FALSE!
In trade, no one is giving something away for free.
What is demand?
a. The good
b. The producer
c. How many consumers want the good
C. How many consumers want the good!
What is a loan?
Is a firefighter a government worker or a service worker?
Firefighters are government workers.
What is a skill a Doctor would have?
Looking inside people's ears, listening to someone's heartbeat.
Answers Vary!
Any place we trade for goods or services is called a ________.
Any place we trade for goods or services is called a market.
I have 20 corn dogs, and 23 people want 1. Do I have enough supply for the demand?
No! I would need 3 more corn dogs in my supply in order to meet the demands!
TRUE OR FALSE:
I am saving money if I spend all of my check on new clothes and Taco Bell.
False!
Silly Ms. Bekah won't have a savings if she keeps shopping and eating burritos.
Communities pay __________ with money from taxes.
Communities pay government workers with money from taxes.
What is a skill you have?!
Tell me!!!!
What word do we use to explain a trade that doesn't involve money?
Barter! To barter is to trade goods or services without using money.
Supply and demand help producers decide how much they can charge for their products.
TRUE
Higher demand & low supply = HIGH PRICES
Low demand & high supply = LOW PRICES
Basically..... If Ms. Bekah has 4 corn dogs and 18 people want one... I am going to charge $20 for a corn dog.
Taking a loan and paying it back later is called _________.
What is a service worker?
Someone who has a job helping others.
What is a skill a teacher has?
Being able to teach new things, explain ideas, read, write.
Give an example of a trade that might happen between the United States and another country....
BE CREATIVE
Another country sending America coconuts because they are not common here.
OPTIONS VARY
Come up with a situation of supply and demand using your teammates.
ACT IT OUT HONEY
When might someone take out a loan?
When buying a house, new car, or going to college!