Money Matters
What is income?
Money that people earn
Are they a producer or consumer?
Sally is buying eggs
Consumer
Is a haircut a good or a service?
Service
What is trading?
Giving something to get something else
True or False: A bank helps keep my money safe
True
Are they a producer or consumer?
Aydin is selling tomatoes.
Is a toy a good or a service?
Good
True or False: You can only trade with money
False
True or False: When you borrow money, you can keep it forever
False
A producer
What is a "good"?
Something you can touch or use, like food or clothes
What is the main reason people trade?
To get something they need or want
What word means: to buy, sell or exchange goods for services
Who is someone who uses or buys goods and services
Consumer
What is a service?
A job someone does to help you, like a teacher or mail carrier
What happens if two people both want the same item?
They need to make a fair trade or decide who needs it more
What is something we can use?
(trade, income, resource)
Resource
Can someone be both a producer and a consumer?
Yes!
Name one job that provides a service
Doctor, teacher, barber, firefighter
BONUS what is it called when countries trade with each other?
International trade