Show:
Incentives
Consumer vs Producer
Good vs Service
Need vs Want
Other
100
What is an incentive?
Something a teacher or parent might do to get children to behave or do something in a certain way.
100
What is a consumer?
A consumer is someone who is getting what they want or need by purchasing a good or service.
100
What is a good?
Something you can buy that you can keep, eat, use, or touch.
100
What is a need?
Something you cannot live without
100
What is Scarcity?
When you don't have enough of a resource.
200
What is a positive incentive?
When you get a reward for behaving or doing something good.
200
What is a producer?
A person who is making a good and or providing a service.
200
What is a Service?
Something you'll pay someone to do for you
200
What is a want?
Something that you would like to have
200
What is an opportunity cost?
When you need to make choices based on the scarcity of a resource.
300
What is a negative incentive?
When you get a punishment for behaving or doing something in a certain way.
300
Give me three examples of producers?
Baker, Painter, Policeman, Teacher, etc......
300
Give me five examples of goods?
Apples, Shoes, Clothes, Toys, Boxes, etc.....
300
Give me six examples of things that we need?
Shoes, Shelter, Clothes, Food, Water, etc......
300
Define Deposit and Withdrawal?
Deposit is when you put money in an account. Withdrawal is when you take money out of an account.
400
Give me three examples of positive incentives?
Stickers, Toys, Extra Reccess, Bison bucks, Candy money, etc......
400
Mike was a baker who was selling a dozen cupcakes of $20.00 a dozen. Mike own a bakery that was on Main st. Janice went into Mike's bakery and bought 2 dozen cookies. Who was the consumer in this story?
Janice was the consumer
400
Give me five examples of services?
Painter, Landscaper, Housekeeper, Nanny, etc.......
400
Miss Wright had $500. She had to decide what to use her $500 for. She used half of the money to get her text books for her classes and the other half of the money to go to her favorite places Sky Zone and Dave and Busters. Did Miss Wright use her money for needs or wants?
Both! I needed my book for class and but i wanted to go to Sky Zone and Dave and Busters.
400

Janie and her friends really wanted to buy tickets to a band concert. They added all their money up together and they did not have enough to buy everyone a ticket to the concert but they did have enough to pay for tickets to the amusement park. Janie and her friends decided to go their instead. What was the opportunity cost?


The opportunity cost was the amusement park.


500
Give me five examples of negative incentives?
Reminder, Candy fine, No recess, Grounded, etc........
500
True or False: consumers need producers and producers need consumers.
True! Consumers and producers need each other.
500
Melissa and Kate were trying to earn money. They were starting a baby sitting services. At the houses Melissa and Kate would babysit at, they would also ask the parents if they would buy candy from them. Are Melissa and Kate providing a service or a good?
Both!
500
True or False: In life everything we buy should be a something that we need.
False! We can buy a mixture of both needs and wants, we just need to make choices on when to buy them.
500

Miss Wright was trying to make her famous chocolate cake with her famous chocolate buttercream frosting. She needed to have about a cup of cocoa powder in total for the cake and frosting but she only had a half of cup. What economic problem did Miss Wright have?

Scarcity!