Meeting our Needs and Wants

Identify one way you could earn money. (p. 242)

• Sell your old toys.

• Give your old toys away.

• Put your old toys in a box.

• Clean your old toys.

What does "abundance" mean? p. 243

• There is not a lot of something.

• There IS a lot of something.

• There is a little bit of something.

• There is only one of something.

What is one way you can work with others to get the supplies people want? (p. 246)

• Work on your own.

• Ask someone to give you money.

• You can work with your parents to have a fundraiser to get the money we need.

• Save money from working.

If you took a camping trip, which items would be a "need"? p. 247

• your ipad and charger

• your airpods

• a book to read

• food and warm clothing

Things you must have to live.

• needs

• wants

• scarcity

• abundance

Things you would like to have but do not need.

• opportunity cost

• wants

• scarcity

• abundance

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

• opportunity cost

• value

• scarcity

• abundance

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

• opportunity cost

• value

• scarcity

• abundance

A lot of something.

• opportunity cost

• value

• scarcity

• abundance

The value of the thing you give up when you choose one thing over another.

• opportunity cost

• value

• scarcity

• abundance