Wants and Needs
What is an example of a want?
Toys, games, candy, technology, etc.
Everyone voted for the kind of Blooket they wanted to play. Fishing had the most votes, so that is what the class played. What allocation method is this?
Majority rule
These are things that we MUST have to survive.
Needs
What service does a doctor provide?
Helping people to stay healthy and well; making people feel better when they are sick
There was only one slice of cake left at the party, so Jacey and Lila split it. What allocation method is this?
Sharing
What is an example of a need?
Food, air, water, shelter, etc.
One lucky winner will have their ticket drawn and will win a brand new scooter! What allocation method is this?
Lottery
What are wants?
Things you would like to have but do not need to survive.
What is a good that we could get/make from a tree?
Paper, chair, desk, canoe, pencils, etc.
Is this a good or service? Books
Good
What is a way that you could earn money to get your needs and some of your wants?
Lemonade stand, selling art, selling clothes/toys, mowing lawns, chores around the house, etc.
The teacher decided who would get the classroom jobs for the week. What allocation method is this?
Authority
Things that are made or grown to be sold
Goods
True or false? Goods and services can come from countries all around the world.
True
What service does a teacher provide?
Teaching kids; helping them learn
Maya's mom gave her $20 to get some groceries. While she is there, Maya sees some cute Squishmallows. Should she get the groceries or Squishmallow? Why?
Maya should get the groceries because those are needs. The Squishmallow is just a want.
Using his birthday money, Kevin bought a new Lego set for $50. What allocation method is this?
Price
Work that someone does for someone else
Service
Is this a good or service? Someone painting your house for you
Service
The students who complete their work for the week will get Fun Friday time. What allocation method is this?
Personal characteristics
Is this a want or a need? A new pair of Nike Dunk shoes
This is a want - we do need shoes, but we don't have to have the most expensive or fanciest ones. That makes this a want.
The 1st place winner in the Bus Safety Poster Contest receives 10 free art lessons. What allocation method is this?
Contest
What does allocation mean?
Allocation means different ways to decide who gets a good or service.
True or false? Many goods come from natural resources.
True
Does the price go up or down when lots of people want something but there is not enough for everyone to get?
The price goes up.