Lesson 1
Things people make or grow to sell
What does it mean to barter?
To trade or to give something and get something in return
What is the definition of a producer?
Someone who makes or grows goods or provides services.
What does scarce mean?
When there is not enough of something.
What does it mean to spend?
To spend money/use money to buy something.
What is an example of a good?
Anything someone makes or grows to sell. (food, toys, electronics).
How do we use money?
To exchange, or buy, goods and services.
What is the definition of a seller?
People who sell goods or services.
When is a time you had to make a choice between two options?
Example: I had a lot of homework, so I had to stop watching tv and do my homework.
When did you spend money?
What is the definition of a service?
Work done to help others.
What is something you use money for?
Any answer is fine.
What is the definition of a buyer?
People who use money to buy goods and services.
What does it mean to save, and what is something you have saved for?
To keep your money to spend later.
When did you save money?
Accept any answer
Fire fighter, custodians, school workers, etc.
Give me an example of a time you bartered?
Example: I gave my friend my bracelet and she gave me her crayons.
What is an example of producing a service?
Example: A doctor checks to see if you are healthy.
What does opportunity cost mean?
What is an opportunity cost you have had to spend?
I gave up watching TV to study for a test.
What is place that sells goods, but also provides services?
Example: Publix sells goods like foods and also makes you dinner, like publix subs.
How are bartering and using money similar?
You are trading something for both. You give money to buy a good or service.
When have you been a buyer?
Any answer is ok (if it discusses buying something).
What can scarcity lead to?
Making choices (like paying more for a scarce item, or shopping somewhere else.)
Ex: Giving money to buy a good