Goods and Services
A __________ is something that is made or grown. A __________ is something someone does for you.
Good, Service
Give me two examples of a need.
(Answers will vary)
Water, food, shelter, clothes, etc.
Correctly explain what "supply and demand" means
Supply is how much of each good and/or service there is, and demand is how many consumers are buying those goods and services.
What is Miss A's favorite color?
Purple
Is the following example a good or service?
Rashad is having car trouble, so he goes to Grease Monkey and gets his car repaired.
Service
Give me four examples of a want.
(Answers will vary)
A game, make-up, a soccer ball, a haircut, a car, etc.
What happens to the prices of goods and services when there is a high supply and a low demand?
The prices go down
What is one of Ms. Rodriguez's made-up words?
(answers will vary)
"Fantabulous"
Is the following example a good or service?
Miracle is having car trouble, so she goes to Auto Part and buys new windshield wipers and puts them on her car herself.
Good
Kaden tells his mom that he needs a new pair of Air Jordans, preferably red in color. Kaden has plenty of other pairs of shoes in his closet.
Is Kaden's "need" a want or a need?
Want
There are only 2 bakeries in Salisbury. The majority of Salisbury citizens wants to buy baked goods from a local bakery.
Are the prices of those baked goods high or low? Why?
High, the demand for bakeries is high and the supply of bakeries is low
What is the name of Ms. Rodriguez's son?
Brandon
Is the following example a good or service or both?
Ms. Rodriguez is in desperate need of toilet paper. So, she goes to the grocery store and buys more. Then, she checks out with a cashier and bagger.
Both
toilet paper (good)
getting groceries checked out by a cashier and bagged by a bagger (service)
Name one specific want and one specific need in one of your teammate's life right now.
(Answers will vary)
What would the demand for tractors be like in Boonsboro? New York City?
High, Low
What is Miss A's middle name?
a) Elizabeth
b) Atlanta
c) Augusta
d) Nicole
Augusta
A person who buys goods and services is a ___________, and a person who sells goods and services is a ___________.
Consumer, Producer
Can a need be a service?
Yes, construction workers build houses for consumers
In the month of December, sunscreen goes on sale for 50% off the price it sells for in July. What is the supply and demand of the sunscreen in December?
High supply, and Low demand
What is the correct line order for homeroom?
(answer on door)