Economic Understanding

What is considered a need?

• Bed

• Dog

• Pokemon Cards

• A Popit

What would be a want?

• Water

• an iPhone

• Food

• Shelter

A person needs to earn ____ to spend on a good or service?

• Shoes

• Money

• Pickles

• Puppies

Is scarcity having too much or too little of an item?

• too little

• too much

A bus driver is a type of ___

• Good

• Want

• Service

The act of giving money for goods and services is

• Spending

• Saving

• Donating

Something that has been collected over a period of time is ___

True or False: A good is something you do for someone

• True

• False

Deciding between having a dog or cat is a ___

• Earn

• Good

• Choice

Is this a want or a need?

• Want

• Need