Need/Want
Things people must have to live
Needs
Work done for other people
Services
Goods and services are sold by
Producers
The amount of goods and services there is to buy
Supply
Things people can live without but spend their money on.
Wants
Real things that people touch and use. Can be large or small.
Goods
How can kids be producers?
Sell newspapers, dog walkers, lemonade stand and more
How many people want to buy goods or services
Demand
Give three examples of a need
Shelter, Food, Water
A car
Good
How are farmers producers
They grow fruits and vegetables. Can raise animals for meat or milk
A small supply means
Give three examples of a want
Toys, video games, vacations
A dentist, mechanic, florist
Services
Anyone who buys and uses goods or services
Consumer
When is demand high
When a lot of people want to buy the same thing
People make __________ with their money.
Choices
Name 3 goods and 3 services
answers vary
How are kids consumers?
Buy toys or movie tickets
To exchange or trade one item for another
To barter