Need or Want?
Opportunity Cost?
Making Choices About Money
Producer or Consumer?
100
Which of the following is a want?
house swimming pool food coat
100
What is a benefit?
a. a good result from a choice you make.
b. the thing you give up when you make a choice
a. a good result from a choice you make
100
What is savings?
a. to keep your money to use later
b. money that you do not spend right away
b. money that you do not spend right away
100
Someone who makes or grows the goods that consumers want is _______.
a. a consumer
b. a service worker
c. a producer
d. a resource
c. a producer
200
Which picture shows a need?
fruit bowl skates soccer ball kite
200
What is an opportunity cost?
a. a good result from a choice you make.
b. the thing you give up when you make a choice
b. the thing you give up when you make a choice
200
What is save?
a. to keep your money to use later
b. money that you do not spend right away
a. to keep your money to use later
200
Someone who buys goods is ________.
a. a consumer
b. a service worker
c. a producer
d. a resource
a. a consumer
300
What is a want?
a. Things we must have to live.
b. Things that we would like to have, but do not need to live.
B. Things that we would like to have, but do not need to live.
300
Look at the chart. If you choose the trip to the park, what is the opportunity cost?
Board game
300
When you borrow money from the bank, it is called a ________.
a. service
b. tax
c. loan
d. savings account
c. loan
300
Producer or Consumer?
consumer
400
What is a need?
a. Things that we would like to have, but do not need to live.
b. Things we must have to live.
B. Things we must have to live
400
Look at the chart. Which would be a benefit if you buy the game?
a. You can play outside
b. You can ride your bike.
C. You can use the game for a long time
D. You spend $10 on the game
C. You can use the game for a long time
400
You have enough money to go to the movies or to buy a book. You choose to go to the movies over buying a book.
What is the opportunity cost?
a. go to the movies
b. buying a book
b. buying a book
400
Producer or Consumer?
Producer
500
What are the three (3) basic needs people want?
Food, clothing, and shelter
500
You have enough money to go to the movies or to buy a book. You choose to go to the movies over buying a book.
What is the opportunity cost?
a. go to the movies
b. buying a book
b. buying a book
500
Savannah has been trying to buy a new iPad so she can watch TikTok for a year. She has $148, and the iPad she wants is $146. Should she save or spend her money?
Spend. She has enough money to buy the iPad
500
Look at the flow chart. What happens in the third step
a. The woman makes lemonade.
b. The woman sells the lemonade to a consumer
c. The woman picks lemons
d. The woman drinks the lemonade
b. The woman sells the lemonade to a consumer