Goods and Servies
Things people buy and own, like books or toys.
Goods
A person who grows vegetables is known as this.
A Producer
Water is an example of this essential item.
Need
When more people want an item, the item is in high...
demand
Actions that people do for others, such as teaching or cutting hair.
Services
If you buy a loaf of bread at the store, you are this.
Something you would like to have but can live without, like a toy.
Want
If there are a lot of apples at the store, this means the supply is...
high
A visit to the doctor for a check-up is an example of this.
A service
The people who create clothes we buy are called this.
Producers
Food, clothing, and shelter fall into this category.
Needs
This happens when there are not enough goods to meet demand.
Shortage
A barber giving a haircut is an example of this, while the scissors are this. (two part answer)
A restaurant buying ingredients to cook meals to sell is this.
Producer
This gadget, though fun to have, is not necessary for survival.
Want
If the demand is low, but the supply is high, what happens to the price
It decreases
A service
When someone buys a movie ticket, they are acting in this role.
A Consumer
What is the difference between a need and want?
Needs are necessary for survival, while wants are things you would like to have.
If the demand is high, but the supply is low, what happens to the price
Increases