Social Studies - Needs and Wants

Which of the following is NOT a need?

• Air

• Food

• Toy

• Water

Which of the following is a need?

• Chocolate

• Shelter

• Toy

• Lipstick

What are needs?

• things you must have

• things you want to have

• things you eat

• things you buy

What are wants?

• things you do not want

• things you must have to live

• things you can buy at a supermarket

• things you like to have but do not need

Do everyone have the same needs and wants?

• Yes

• No

What are goods?

• things people can sell and buy

• things people do

What happened to goods when COVID-19 broke out?

• there was an abundance of goods

• there was a scarcity of goods

• there was a supermarket

• there was chocolate

What does abundance mean?

• there is a lot of something to meet people's needs and wants

• there is not enough of something to meet people's needs and wants

• I don't know :(

What is an opportunity cost?

• something I want

• money

• the value of something I gave up

• things I eat

What is a value?

• how much something is worth

• expensive things

• money and goods

• how much I eat