Lesson 1
We use ____ to buy what we want and need.
money
When there is little of something, this means it is ______.
scarce
_____ are things people grow or make.
goods
When we ____, we give one thing to get something else from someone.
trade
People use money to ____ what they need and want.
buy
Needs
A ____-____ is when you give up one thing to get something else.
trade-off
What are 4 examples of good?
...
What does a producer do?
grows or makes goods
People can spend money now or _____ it, which means to put it away until later.
save
Give 4 examples of needs.
I had to decide between eating apple and oranges. I decided to buy oranges, that was my _____ to buy them instead of apples.
choice
______ are jobs people do to help others.
services
A ______ uses good and services.
consumer
Before using money, people use to trade _________ to pay for things they wanted/wanted done.
services
Is the following fact or opinion?
I think everyone should get free money every month to make their lives easier.
Three children want apples for a snack. There is only one apple. Two children must pick a different snack.
What is the effect?
Name a service worker in your community.
Police, fire fighters...etc.
Producers sell their goods at a ______.
market
I did not have a pencil for class, so I asked my friend if I could use one of her pencils and give it back at the end of class. This is called what?
borrowing
People need money to buy things.
People work to earn money.
Which is the cause? Which is the effect?
Cause - People need money to buy things
Effect - People work to earn money
The thing you give up in a _____-_____ is called a _________ ______.
Trade-off, opportunity cost
Read the sentences below. What is the cause and what is the effect?
Children like to play with toys and games. The worker makes toys for children.
Cause - Children like to play with toys and games.
Effect - The worker makes toys for children.
What is a market?
A place where goods are sold.
What is an example of a job at school, a job at home, and job that earns money.
...