Part A
Name a good we have in our class!
Teacher will determine the answer!
What do we call money we earn from doing a job?
DOUBLE POINTS!
Income!
DOUBLE!
What is a market?
Where producers can sell goods to consumers!
What is another name for a consumer?
customer
Name a service we have at school!
Teacher will determine answer...
Examples:
lunch lady
teacher
librarian
nurse
To trade goods and services for other goods or services without using money is called _____?
Bartering/trading
What are some ways you as a kids can be a producer?
DOUBLE!
Lemonade stand
make a craft and sell it
Teacher can determine the answer!
DOUBLE!
Why do farmer's specialize in 1 crop or animal today?
They can become experts in that area and make more of that good faster and easier
Therefore, farmers can earn more money!
A _______ is work people do for consumers.
service
This is the money used to help pay for our schools, police and fire departments.
Taxes
What is a producer?
A person who makes or grows a good
A person who does a service for others
Why is saving money important? Give an example!
DOUIBLE!!
It helps you collect money for more expensive things or for emergencies
Examples:
Save for a new video game system
Save for emergencies like if your car breaks down
DOUBLE!!
A _____ is something people want or need that can be held or touched.
good
What do people use today to buy/sell goods and services?
money-coin/paper
credit/debit cards
Digital payments
What is a budget?
A plan for how people will spend their money. They determine the cost of their needs and wants and how much is left to save for the future.
How were families self-sufficient in the past?
Grow own food
sew own clothes
make/build their own houses, barns, tools, furniture
They did everything themselves!
Lawyers, chefs, vets are examples of people who provide a ________.
DOUBLE POINTS!
Service
DOUBLE!
How do people earn an income? Give an example of someone who earns an income!
Teacher determines the correct answer!
Why are families NOT self-sufficient today?
DOUBLE!!
As towns grew many businesses started to specialize in a special skill.
We rely on others to provide many goods/services for us.
DOUBLE!!
Is Mrs. Breznak's job providing a good or service? How do you know? How/where does she earn her income?
DOUBLE!!
Service- teaches kids and does not sell goods
Her income is paid through taxes not our parents sending a check like Preschool!
DOUBLE!!