Needs and Wants
Something people must have to live such as air to breathe and food to eat is called a what?
A need.
Things that are made, manufactured, or grown like clothes, computers or fruit are known as what?
Goods
A mailman delivers mail to your house each day.
True or False: The mailman is a producer.
True
You are eating an ice cream cone that you bought while walking home from school. Are you a consumer or a producer?
A consumer
What is a resource?
Anything we can use to get our wants and needs.
You have been saving all of your allowance for months to buy a pony. Is a pony a want or a need?
A want.
Work that someone does for someone else is known as what? (for example, dog walking or a dentist)
Services
Name 2 capital resources.
Answers may vary: oven, stove, tractor, excavator, tools, computer.
A person that provides a good or a service is a...
A producer
Haley loves to eat Veggie Straws for an afternoon snack.
True or False: Veggie straws are a natural resource.
False
A product that is not required for survival is called a what?
A want.
California grows oranges and grapes. They ship the grapes to Hawaii. Are the grapes an import or export of Hawaii?
Import
If you don't have money to pay for a good or service, what could you do?
Trade
A person that buys or uses a good or a service is a...
A consumer
Name two natural resources.
Possible answers:
Water
Wood (Trees)
Animals (cow, pig, chicken, etc.)
Plants
Rocks/Minerals
Do communities provide needs or wants?
Needs (Examples are hospitals or shelters)
Hawaii grows pineapples, coffee, and sugarcane. These goods are shipped to the mainland. Are these goods imports or exports of Hawaii?
Exports
What is it called when there is not enough supply for everyone that wants a good to have it?
Scarcity
A fireman comes to your school when the fire alarm goes off to make sure everyone got out of the school safely. Is the fireman a producer or consumer?
A producer
Give two examples of a human resource.
Possible answers:
Carpenter
Teacher/Coach
Artist
Car mechanic
Inventor
Do commercials advertise wants or needs?
Wants. Commercials advertise wants, such as toys, video games, and snacks that are not needed for survival.
Name two services provided at school.
Possible answers:
Cafeteria cooks food for students, Teachers teach students, Custodians clean classrooms
You have $10. You want to get a pizza and an ice cream. You only have enough money to get one item so you buy pizza. What is the ice cream called?
Opportunity cost
How do producers and consumers affect each other?
The producer must supply what the consumer wants and needs. The consumer buys from the producer which allows the producer to make money to purchase more wants and needs.
A capital resource is a good used to make other goods or provide services. Name two examples of capital resources.
Possible answers:
Machines (to make clothes, jewelry, baked goods)
Supplies (desks, computers, printers, phones)
Tools