Wants and Needs
Something you must have to survive (food, shelter, …)
Needs
Objects or items that satisfies wants or needs.
Goods
Someone who sells the goods
Producer
Something found in nature that can be used by people.
Natural Resouces
How much there is of something.
Supply
What is an example of a want?
Phone, train, book, car, and etc.
Actions or activities that satisfy our wants or needs.
Services
Someone who buys the goods
Consumer
Lack of a resource.
Scarcity
How much of something people want.
Demand
What is an example of a need?
clothes, shelter, food, and water
Give an example of a service
Police, teacher, painter, and etc
Big Sky Bread Company makes bread daily for the Oakwood community. Who is the producer?
producer
Give an example of a natural resource and a man-made resource.
Man-made: house, shirt, chair, and chips
Spring has arrived early, and every store is stocked with a lot of mulch/soil. Is this talking about supply or demand?
supply
What is more important in our lives - wants or needs?
Needs
Give an example of a good
phone, ,apple, notebook, waterbottle, and etc.
Ms. Zeman goes to Starbucks after school to get a coffee. She buys a drink and takes a seat. Who is the consumer?
Ms. Zeman
What does it look like if something is scarce?
answers may vary.
A new computer came out and everyone wants to buy it! Is this talking about supply or demand?
Demand
Is a car a want or a need?
What goods and services does a grocery store offer?
Goods - eggs, fruit, bread
Services - baking, bagging, butcher, and stocking.
Can you give me an example of a business with its consumers and producers?
- Chick-fill-a makes lunch for Oakwood students every Monday,
- Shell gas station provides gas for the Dayton area people with cars.
- The post office delivers mail to people in the community every day.
Give an example of a natural resource that has become scarce
answers may vary.
Give an example of something with a high demand but a low supply.
Jack's snacks!