Needs/Wants
Goods/Services
Producers/Consumers
Bartering/Trading
Mystery
100
Something people need to have to live such as air to breathe and food to eat is called a what?
Need
100
Things that are made, or grown like clothes, computers or fruit are known as what?
Goods
100
You are eating an ice cream cone that you bought while walking home from school. Are you a consumer or a producer?
Consumer
100
What is opportunity cost?
The thing that is given up. The second choice.
100
I want an Ipod and a new TV. I pick the new TV. What is my opportunity cost?
Ipod
200
Is a pony a want or a need?
Want
200
Work that someone does for someone else is known as what? (for example, dog walking or a dentist)
Services
200
Mary made bracelets. She charged her friends 50 cents for each bracelet. Is Mary a producer or consumer?
Producer
200
What does it mean if you barter with someone?
You trade without using money. You are trading a good or service for another good or service WITHOUT using money.
200
You are a consumer. You want to buy an orange and an apple. You only have enough money for one piece of fruit. You buy the apple. What is your opportunity cost?
Orange
300
Is a brand new pair of shorts a need or a want?
Want
300
I mow people's yards and look after their gardens. Am I providing a good or a service?
Service
300
You go to Walmart to buy folders for school. Is Walmart a producer or consumer?
Producer
300
True or False: A long time ago there was no such thing as money.
True
300
True or False: To save means to keep your money to use later .
True
400
List 3 wants.
EX: video games, car, boots
400
If there is not enough of a good or service it is called?
Scarcity
400
A person that buys a good or a service is called a ______.
Consumer
400
True or False: Bartering is a good way of getting things.
True
400
Name two natural resources.
EX: Water and sunlight
500
List 3 needs.
EX: Water, shelter, food
500
If I do not have enough money to buy a good or a service, what can I do?
Barter or Trade
500
A person that provides a good or a service is called a _____.
Producer
500
True or False: Carol really good at sweeping the floor but her sister is really good at mowing the lawn. They decide to trade jobs so that they can do the jobs that they are good at. They are bartering.
True
500
Name 3 types of service workers in our community.
EX: Fireman, policeman, teacher
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