Needs and Wants
Is water a need or a want?
Water is a need.
Are books goods or services?
Books are goods.
What is the cause.
Bob wanted a new pencil case. He saved his money and bought a new pencil case.
Bob wanted a new pencil case.
What is the difference between a good and a service?
A good can be grown or made, but a service cannot.
What are services?
Jobs people do to help others.
Is food a need or a want?
Food is a need.
Teaching is a service.
What is the effect?
Kris worked hard at his job. He made a lot of money.
He made a lot of money.
Name a job that cannot be done at home.
Driving a taxi.
Rock, paper, scissors.
Winner gets another 50 points. (250 total)
Video games are a want.
Is a firefighter a producer or a service worker?
A firefighter is a service worker.
Rock, paper, scissors.
Loser loses 50 points. (Winner gets 300)
Who has a job that produces a service?
Someone who teaches children.
What is money?
Bills or coins used to buy things.
What do most people use to get what they need and want?
Most people use money to buy what they need and want.
Give an example of a producer.
A baker is a producer.
What is a tool?
A piece of equipment that is used to do a certain job.
True or False. You can be both a producer and a consumer. Give an example.
True. A baker must buy ingredients for bread. Then they make bread.
What is a trade-off?
When you give up one thing to get something else.
Bonus 50 Points : What is the thing you give up called?
Give an example of something that is scarce.
There is one glass of milk. Two children want milk.
Give an example of a service worker. What service do they provide?
A police officer is a service worker. They provide safety.
True or False. Every makes money at their jobs.
False.
What does it mean to trade something?
We give one thing to get something else.
How is trading now different from trading long ago?
Long ago, people used good and services to trade, but now most people use money.