Show:
Wants & Needs
Factories
Supply & Demand
Goods & Services
Money
100
Give an example of a "need"
Junk food, toys, games, etc.
100
What is a factory?
A building that produces goods to be sold.
100
A store has 10 lego sets left, and there are 15 people in line who want to buy one. Is this a high demand, or low demand?
High Demand.
100
What is a "good"?
Something that is made or grown for sale.
100
What kind of job can you do to earn money?
Mow the lawn, wash the dishes, make your bed, take out the trash, walk dogs, etc.
200
Explain what a "need" is.
Something you must have in order to live.
200
Does a factory produce sneakers or bananas?
Sneakers.
200
A store has 300 boxes of orange cookies, but everyone the chocolate cookies. Is there a high supply of orange cookies, or a low supply?
High supply.
200
What is a "service"?
A job done to help others.
200
What is the name of the place where people go to save their money or take out money?
The Bank.
300
Explain what a "want" is.
Something you would like to have, but don't need in order to live.
300
Why is it important for factory workers to work together?
So that the product is made correctly, and more of the product gets produced.
300
What does "Supply" mean?.
The amount of a product available to customers
300
Give 2 examples of a "good".
food, clothes, shoes, etc.
300
Name 2 types of things that you can spend your money on.
Goods and Services
400
Is an apartment a "want" or a "need"?
A "Need"
400
Name two items that are made in a factory.clothing, toys, shoes, furniture, books, etc.
clothing, toys, shoes, furniture, books, etc.
400
What is the meaning of "Demand"?
To want something now.
400
Give 2 examples of a "service".
Teachers, policemen, firemen, chef, etc.
400
Where do YOU like to put YOUR money to save it?
Answer based on student's reponse.
500
Name the different types of "needs"
Shelter, healthy food, water, fresh air, clothing, and LOVE!
500
Why is it important to have one job in a factory, instead of switching jobs in the factory everyday?
So that work can get done faster, because people will know their own job and get better at it.
500
Give your own example of supply or demand.
Class judges your answer!
500
What is the name of the person who buys the goods from a store?
Consumer OR customer
500
What is another type of account that someone can put money into?
a CHECKING account