Producers
What is a producer?
A person who grows, makes, or sells a product
What is a consumer?
A person who buys or uses goods and services
What are goods?
These are items that can be bought or sold
Food, water, and shelter are examples of this
Need
Give an example of a producer
A farmer, a baker, and a factory worker are all examples of this.
When is a person a consumer?
When you buy something, you are a consumer
What is a service?
This is work done by others, such as a haircut or a doctor check-up
A new video game console or a toy is an example of this
want
Free points!
Yay!
Free points!
Yay! Congratulations!
A teacher or a police officer provides this to the community. Good or service?
Its a service
This is why people cannot have everything they want
Because of scarcity, there is not enough of everything in the world
producer
I bought 500kg of broccoli to make broccoli soup for my entire family. Am I a producer or consumer?
Examples of these include toys, food, and clothes
Goods
What is a toy (or other luxury item)?Need or want?
This is a, "want" that is not necessary for survival
Name something you can produce
What is buying (or purchasing)?
When someone uses money to get a need or want
What is a want?
This occurs when a producer makes something that is not needed for survival
True or False: Fruits and vegetables are examples of needs
True