Economics

What is a service?

• A job
• Something someone does for you
• A need
• Something you do for another person

What is a need?

• Nothing
• Something you have to have to live
• Something you would like to have
• Ice cream

Tags

CCSS.RI.2.1

CCSS.RI.3.2

CCSS.RL.1.1

CCSS.RL.2.1

CCSS.RL.2.2

What is a good?

• A need
• A baseball game
• Things people do for money
• Things that people make or grow

What is a want?

• A person
• Something you would like to have but don't need to live
• Purple
• Something you need to live

Tags

CCSS.RI.1.2

CCSS.RI.2.2

CCSS.RI.3.2

CCSS.RL.2.2

CCSS.RL.3.2

A person who uses and buys goods and services 

• money 
• producer 
• consumer 
• economics 

A person who makes goods or provides a service 

• goods 
• service producer 
• producer
• consumer 

Things that were not made by humans and are found in nature

• natural resources
• human resources
• capital resources
• services

What does a buyer exchange for goods and services? 

• money
• books
• food

Kate needs school supplies, yet she wants to buy the latest Shopkins. She only has enough money to buy school supplies.
What should she do?

• Buy the Shopkins. Her teacher will understand.
• Buy the Shopkins. Ask someone else to buy her school supplies.
• Buy the school supplies. Start saving her money for the Shopkins.
• Buy only part of what she needs so she can spend the rest on Shopkins.

What is bartering?

• A product
• Giving money away
• Trading without  using money