Economics

Needs/Wants

100

Give an example of a NEED that we wear to keep our body protected from the heat and cold. 

Clothes 

200

Name another example of a NEED.

Shelter 

300

What types of foods do we NEED in order to live? 

healthy fruits and vegetables 

400

What are wants? 

Things we like to have, but do not need to live. 

500

What should we always make sure we purchase first? 

Needs before wants 

Money

100

I want a new backpack that costs $30. I only have $20. What should I do? 

Save my money until I have enough to buy the backpack. 

200

Where is a good place to keep my money when saving it? 

Any reasonable response.

300

My shoes have a big hole in them, but I would really like to have a new toy. Which one should I buy first with my money? 

New Shoes 

400

Why do we need money? 

To buy the things we want and need. 

500

What does it mean to save money? 

You put it somewhere safe and don't spend it. 

Goods/Services

100

What is a good? 

The things people make and use. 

200

What is a service? 

Something someone does for someone else to earn money. 

300

Give an example of a good 

Any appropriate response

400

Name someone who provides a service. 

Any reasonable response.

500

The Cookie Monster made 300 cookies for the bake sale. Do we get a good or service from him? 

good

Producers/Consumers

100

What is a producer? 

Someone who makes a good or provides a service. 

200

What is a consumer? 

Someone who pays for goods or services. 

300

Bill sells hotdogs at the hotdog stand. What do we call his job?

Producer 

400

Wendy went to Mr. Craft's Art Store to get supplies for Christmas. She bought some tinsel. Who was the consumer?

Wendy

500

Santa delivered toys to all the children on the nice list. What do we call the children?

Consumers

Mystery Category

100

When people cannot have all the goods and services they want they must___________.

Make Choices 

200

Mandy gave the dog a haircut before the big dog show. What is Mandy? 

A Producer

300

Micky Mouse needs a new pair of boots, but he really wants a chocolate cake. What should he do?

Make a choice or buy the things he needs first. 

400

Bluey went to the store to get her mom some apples, bread, and yogurt. She also adds her favorite candy bar to the cart. When it is time to pay for her groceries she only has enough for 3 things. What should she put back? Why?

The candy bar because it is a want. She should buy her needs first. 

500

Who was the first African American woman banker from VA?  

Maggie L. Walker