Consumers
Producers
Resources
Buyers and Sellers
Cost and Benefit
100

What do we call someone who buys goods and uses services?

A consumer

100

Who makes the goods or provides services?

A producer

100

What do we call things that producers use to create goods?

Resources

100

Who is a seller?

A person who sells goods or services.

100

What is the cost of buying something?

What you give up (money).

200

What is an example if a good that a consumer might buy?

Cookie, bike, etc.

200

What is an example if someone who produces?

A farmer, baker, etc.

200

Name one resource that a builder might use

Wood, nails, etc. 

200

Why do sellers depend on buyers?

Because they need buyers to sell their goods and services. 

200

What is a benefit when you buy something?

What you gain or what you need.

300

What is the name of the place where people buy and sell goods

A market

300

How do producers create goods?

By using resources. 

300

What are two examples of resources?

Wood, nails, tools, etc.

300

What happens when you buy a good or service?

The seller earns money. 

300

If you buy a toy, what might be a cost?

You will have to give the seller your money. 

400

If a boy buys a cookie for himself and one for his sister, who is the consumer?

The boy is the consumer.

400

What kind of jobs do producers have? 

Making goods or providing services.

400

How do resources help producers?

They help them make goods or provide services. 

400

How can sellers use the money they earn?

To buy things they need or to invest. 

400

What do consumers think about when making a choice?

The costs and benefits. 

500

What does it mean to be a consumer in simple words?

A person who buys and uses things. 

500

What is one thing that a dairy farmer produces?

Milk

500

What resources would a baker use to make a pie?

Blueberries, flour, sugar, etc. 

500

What is an example of a seller providing a service?

A painter, a bike repair person, etc. 

500

What is an example of a benefit from buying a bike?

You get to ride the bike. 

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