Money Review

Review Time!

Use what you know about GOODS, SERVICES, PRODUCERS, CONSUMERS and SCARCITY to answer the questions ​

Multiple Choice

Is this double chocolate brownie a WANT or a NEED?

• WANT- I do not need it to stay alive

• NEED- I need to eat the brownie to to help me live

Multiple Choice

Is this glass of water a WANT or a NEED?

• NEED- I need to drink water to stay alive

• WANT- I want to drink the cool refreshing water

Multiple Choice

These sneakers are a WANT or a NEED

• WANT- I want those sneakers to match my outfit

• NEED- I will die if I do not have those sneakers!

Multiple Choice

A GOOD is something that you can buy and hold in your hands. YES or NO?

• YES- Goods are things you buy like toys, books and computers

• NO- I can't see a good

Multiple Choice

A SERVICE is something that you pay for that is done for you. YES or NO?

• YES! The hair stylist provides a service for you- they cut your hair

• NO!

Multiple Choice

YOU NEED food, clothing and shelter to survive. YES or NO?

• YES- I need food, clothing and shelter to stay alive

• NO- I just need my iphone to stay alive

Multiple Choice

The dentist provides you with a SERVICE. YES or NO?

• Yes- you pay the dentist to clean your teeth

• NO- I pay the dentist for a toothbrush

Multiple Choice

When you pay for something at the store you are a CONSUMER. YES or NO?

• YES- I pay for the good and I will consume the good

• NO

Multiple Choice

A PRODUCER provides goods and services that people buy/consume. YES or NO?

• YES- a producer makes the things we want to buy

• NO

Multiple Choice

The person who cuts your hair is a PRODUCER of a service. YES or NO?

• YES- I pay the stylist to cut my hair- provide me a service

• NO

Multiple Choice

When there is not enough of something that people want

• Scarcity

• snakes

Multiple Choice

We cannot have everything we want. YES OR NO?

• YES- we can't get EVERYTHING we want

• NO- I can get EVERYTHING I want ALL the time!