Economics - Wants, Needs, Goods & Services

The study of resources such as money, materials, and labor

• economics
• services
• producers
• goods

What is a service?

• A job

• A rabbit with long extraordinarily long ears

• A need

• Something you do for another person

A person who uses and buys goods and services 

• money 
• producer 
• consumer 
• economics 

A person who makes goods or provides a service

• goods

• Donald J. Trump

• producer

• consumer

Which of the following is not a service?

• Dry Cleaner
• Car Wash
• Clothes
• Babysitter

Things we buy that we can touch or hold

• services

• opportunity cost

• goods

• human resources

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

• natural resources
• human resources
• capital resources
• services

Which of these is a need?

• car
• water
• video games
• candy

Which of these is a want?

• Legos
• air
• water
• food

A crew of men are hired to paint a new house.  They are providing a ____

• service
• product
• specialization
• good

Tags

CCSS.RF.3.3B

CCSS.RF.3.3C

CCSS.RF.3.3D

CCSS.RF.4.3A

CCSS.RF.5.3A