Wants versus Needs

Economics and Environment

Unit 6 Social Studies

Economics and Environment

• Supply and demand affects the economic choices of individuals.

• Economic development and growth in a community is influenced by natural resources.

  
  

• Innovation, opportunity and the potential to increase their power and wealth are factors that encourage people to take risks as entrepreneurs.

• Entrepreneurs make business decisions based on the needs and desires of consumers.

• Responsible citizens can contribute to the well-being of their natural environment.

Essential Vocabulary

• Supply/Demand

• Natural Resource

• Consumer

• Producer

• Economic Choice

• Market Economy

• Entrepreneur

Open Ended

What are some examples of basic needs that all people have?

Multiple Choice

A want is something people must have to live.

• True

• False

Multiple Choice

Which of these is a need?

• cell phone

• computer

• food

Multiple Select

You went to Walmart. Pick all the items that are needs.

Multiple Select

Pick the items that are wants.