Economy Basics

Front

What is a want?

Back

Something you don’t need to survive but would like to have.

Front

What is a need?

Back

Something that you have to have in order to survive.

Front

Which of the following is an example of a want? House, Winter clothes, Food, iPad

Back

iPad

Front

Which of the following is an example of a need? Bicycle, Jacket, X-box, Cat

Back

Jacket

Front

What are products that are made or grown?

Back

Goods

Front

Increase means:

Back

More

Front

Decrease means:

Back

Less

Front

what are services?

Back

Work someone does for others

Front

Which of the following is not an example of a good? Toothpaste, Apple, Shirt, Haircut

Back

Haircut

Front

Which of the following is an example of a service? Toys, Car, Computer, Medical Check-Up

Back

Medical Check-Up