Wants vs Needs
Is shelter a want or a need?
Need.
If I cut hair to make my income, am I a producer or consumer?
Producer.
Does a teacher provide a good or service?
Service
What is income?
The money people make when they work.
Name a want.
I went to the movie theater. Am I a producer or consumer?
Consumer
Do you find goods or services at Target?
Goods
What is a factory.
A place where people make goods.
Is a guitar a want or a need?
Who is the consumer at the farmer's market?
The people shopping.
If you go to a concert, do you get a good or a service?
Service
What is price?
The amount of money you pay to buy something.
Name a need.
Anything that is necessary to live.
I am an author, so I write books. Am I a producer or consumer?
Producer
Is a car a good or service?
Good
What is a bank?
A safe place people keep their money.
Is money a want or a need?
A want.
Name a producer.
Anyone who provides or makes a good or service.
Name a service you can buy.
Anything that people do for others in exchange for money.
When is something a need and not a want?
When you need it in order to live. (food, water, shelter)