Show:
Needs/Want
Goods/Services
Producers and Consumers
Spending and Saving
Supply and Demand
100

Are video games, diamond rings, and television sets NEEDS or WANTS?

What are wants

100
Anything someone may want or need
What are Goods
100
One who uses or buys items, goods, or products.
What is a consumer
100

If you keep your money to use later, you are ___________.

Savings

100

_______ is how much of a good or service is available.

 supply

200

Are fruits and vegetables, houses, and clothes NEEDS or WANTS?

What are needs

200
Something you can do for someone, that can be bought or sold.

a service

200

One who purchases an item.

consumer/buyer

200

If you use money to buy something, you are __________.


Spending

200

When many people want to buy something, the _______ is high.

demand

300

Are pets a NEED or WANT?

want
300
Would a new PS4 be a good or a service?

Good

300

One who creates or makes a good to sell.

producer/seller

300

Why might someone save their money?

Emergency or to buy something bigger (more expensive) later.

300

I'm selling cookies. I had a supply of 50 cookies but I ran out because the ___________ was so high.

demand

400

If there is not enough of the things you NEED or WANT, supply is ___________.

low

400
Does a nail salon offer a good or a service?

service

400

Can someone be both a producer and a consumer?

Give example.

Yes. 

Ex. A farmer sells vegetables but also buys clothes.

400

You have $10 and spend $6. Did you save or spend more?

Spent more.

400

Before school starts in August, many stores increase their ________ of pencils because they know the pencils will be in high demand.

supply

500

If many people NEED or WANT a product, the demand is ___________.

high

500

Name one good AND one service you could get at a grocery store?

Cashier - service

Any product - good

500

China makes computers to sell to the United States.

Who is the PRODUCER and who is the CONSUMER?

PRODUCER: China

CONSUMER: United States

500

What you should you spend your money on first?

Housing and food OR Going to the movies with your friends

Housing and food.

500

When a company has a LOW supply of something that EVERYONE wants, what can they do to the price?

increase-make it more expensive