Wants
and
Needs
and
Needs
True or false: A family should buy needs before wants.
What is true?
What does ATM stand for?
Automatic Telling Machine
Where did Mr. Randy go to college?
Towson University
A person who makes or sells goods or services is called this.
What is a producer?
When there is not enough of something
What is scarcity?
Something you must have to live, like food, water, or a home.
What is a need?
Why do people put money in a bank instead of keeping it.
answers may vary
Who is Mr. Randy's favorite musical artist?
Lil Wayne
A person who buys and uses goods and services is called this.
What is a consumer?
What people make when there is not enough money to buy needs and wants.
What are choices?
A toy, video game, or candy are examples of this because you don't need them to live.
What is a want?
If you want to buy a new bike but don’t have enough money, you should do this
What is save?
What did Mr. Randy major in at college?
Criminal Justice
True or false people can be both producers and consumers.
What is true?
The choice someone does not pick
What is opportunity cost?
How many people want or need of good and services
What is demand?
This is a safe place to keep money.
What is a bank?
What was Mr. Randy's first job?
Giant Gas Station
When you go to a grocery store and buy fruits and vegetables, you are this.
What is a consumer?
What are the 4 factors of production?
Land, Capital, Labor, Entrepreneurship
How much of a good or service there is to buy.
What is supply?
How people make goods and provide services: how people earn and spend money
What is economics?
Who is Mr. Randy's favorite historical figure?
Malcolm X
A farmer grows apples, a truck driver delivers them to the store, and a customer buys them. How many consumers are in this example?
What is one?
Jasmine can only choose one fruit to take for lunch. She decides to take an apple.
What is the banana called?
What is opportunity cost?