Which of the following is a want?
house swimming pool food coat
What is a benefit?
a. a good result from a choice you make.
b. the thing you give up when you make a choice
a. a good result from a choice you make
a. to keep your money to use later
b. money that you do not spend right away
b. money that you do not spend right away
Someone who makes or grows the goods that consumers want is _______.
a. a consumer
b. a service worker
c. a producer
d. a resource
c. a producer
Which picture shows a need?
fruit bowl skates soccer ball kite
What is an opportunity cost?
a. a good result from a choice you make.
b. the thing you give up when you make a choice
b. the thing you give up when you make a choice
What is save?
a. to keep your money to use later
b. money that you do not spend right away
a. to keep your money to use later
Someone who buys goods is ________.
a. a consumer
b. a service worker
c. a producer
d. a resource
a. a consumer
What is a want?
a. Things we must have to live.
b. Things that we would like to have, but do not need to live.
B. Things that we would like to have, but do not need to live.
Look at the chart. If you choose the trip to the park, what is the opportunity cost?
Board game
When you borrow money from the bank, it is called a ________.
a. service
b. tax
c. loan
d. savings account
Producer or Consumer?
consumer
What is a need?
a. Things that we would like to have, but do not need to live.
b. Things we must have to live.
B. Things we must have to live
Look at the chart. Which would be a benefit if you buy the game?
a. You can play outside
b. You can ride your bike.
C. You can use the game for a long time
D. You spend $10 on the game
C. You can use the game for a long time
You have enough money to go to the movies or to buy a book. You choose to go to the movies over buying a book.
What is the opportunity cost?
a. go to the movies
b. buying a book
b. buying a book
Producer or Consumer?
Producer
What are the three (3) basic needs people want?
Food, clothing, and shelter
You have enough money to go to the movies or to buy a book. You choose to go to the movies over buying a book.
What is the opportunity cost?
a. go to the movies
b. buying a book
b. buying a book
Savannah has been trying to buy a new iPad so she can watch TikTok for a year. She has $148, and the iPad she wants is $146. Should she save or spend her money?
Spend. She has enough money to buy the iPad
Look at the flow chart. What happens in the third step
a. The woman makes lemonade.
b. The woman sells the lemonade to a consumer
c. The woman picks lemons
d. The woman drinks the lemonade
b. The woman sells the lemonade to a consumer