Money and Currency
The currency used in the United States of America is called?
(US) Dollars
A good is....
Goods are things you purchase that you can touch.
What is a need?
Something each individual needs to survive.
A producer is...
When you buy a 'piece' of a company it is called....
Stock(s)
Whale teeth, Shells, Beads, Goats, Cows, Chickens...
A service is....
Something you pay someone or a robot to do, they are actions.
What is a want?
Something that is not a necessity.
A consumer is....
Someone who buys a good or a service.
True or False.
True.
What 2 symbols are used in American currency?
$ and ¢
They purchased a new backpack for a trip!
Did they purchase a good or service?
Good
Insulin for a diabetic.
Is this a need or want?
Need
A farmer raises cattle.
The farmer is a....
Producer
A strong economy is when ...
Consumers buy
Producers produce
What is currency?
The specific money of a country/countries.
They went to the dentist for a yearly checkup!
Did they purchase a good or service?
Service
A private plane.
Is this a need or want?
A pilot flys a plane full of people to Minneapolis.
The pilot is a....
Producer.
The economy is...
Economy is the system of how people produce, buy, and sell goods and services in a country or the world.
What is money?
Anything that has value and can be traded.
A family flies to Zimbabwae and stays at a hotel. They decide they would like to go on a safari to see wild animals. They contact a company and book a car to take them on a safari. The safari they have booked is a good or service?
Service
Food.
Is this a need or want?
Need
A teacher provides pencils to their students. Unfortunately, many students do not return them. The teacher goes to Target to refill their stash of pencils.
This is an example of the teacher being a....
Consumer.
Economics is...
Economics is the study of how people make choices about what to produce, buy, and sell.