Economics

What is a need?

• Something you need to survive

• Something you want really bad.

A good is:

• Something you buy at the store.

• Something you eat.

• Something someone does for you.

A service is:

• Something someone does you.

• A place

• Something you buy at a store

Ice cream shops sell

• goods

• services

• needs

• wants

Name a good that you need

A producer is

• someone who makes goods or offers services

• someone who buys goods or service

Saving money means to

• spend all of it

• trade money for a good or a service

• keep money to use later

Spending money means to

• trade money for a good or a service

• keep money for later

• make a good

Name one way to save money

Your parents gave you 50 dollars. You really want a toy that cost 60 dollars. Should you save the 50 dollars or spend it on another thing and save your money for the toy another time.