Economics

Read the of items below. Identify which items are needs. There will be more than one answer.

• Shelter

• Food

• Movie ticket

• Basketball

• Clothing

Read the list of items below. Identify which items are wants. There will be more than one answer.

• Shelter

• Food

• Movie ticket

• Basketball

• Clothing

Good or service?

• Good

• Service

Good or service?

• Good

• Service

Good or service?

• Good

• Service

Good or service?

• Good

• Service

Producer or consumer?

• Producer

• Consumer

Barter is when you negotiate a good or service for something else without using money

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• 

Trade is when you negotiate a good or service for something else without using money

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• 

Answer explanation

Trade is when you buy, sell, or exchange an item with someone else

The amount of goods and services that people sell is called

• Supply

• Demand