Vocab
if something is essential for you survival it is a what?
Need
A farmer grows strawberries and sells them at the local farmers market.
Producer
what is the difference between a want and a need?
need is for survival
want is a desire, not needed to live
What room are we in (number)
2
Physical thing you can buy?
Good
Billy mows his neighbors grass.
what is billy?
Producer
give an example of a service.
examples my vary
Stingers
limited availability or short supply
Scarce or Scarcity
Johnny uses UBER to drive home.
Consumer
what is an example of a resource?
examples may vary
What is the principal's name?
Dr. V
Things used to produce good and services.
Resources
A teacher buys supplies before they begin teaching
consumer
in your own words what is economics?
the study of how people make choices with limited resources.
What does SOUL stand for?
School of Unlimited Learning
situation where choosing one option requires sacrificing another.
Trade-offs
A teenager uploads videos to YouTube and earns ad revenue from views, then uses that money to buy new sneakers.
BOTH
producer and consumer
when a consumer is purchasing something from a producer, what is taking place?
Exchange
What street is our school located on?
Calaveras