Needs, Wants, Goods, Services

Needs are items that are essential to our survival

• True

• False

What is an example of a need

• Playstation

• Television

• Water

• Apple watch

Wants are

• Limited

• Do not bring us satisfaction

• Unlimited

• You need to survive

Which of these is an example of a need?

• Laptop

• Bike

• New phone

• Air

A market refer to the organised exchange of

• good and services

• need and wants

• consumers and producers

• job opportunities

A consumer is a person or group that is the final user of goods and services produced in an economy

• True

• False

You are a consumer

• True

• False

Which of these is an example of a want?

• Water

• Clothing

• Food

• New iPad

Producers are individuals and business involved in the production of

• needs and wants

• consumers

• goods and services

• laptops

What are services?

• laptops and computer games

• tangible

• things you can touch

• intangible