Starting with the Basics

Why do Carlotta and Hugo have different wants?

• They are the same age.

• They have different interests.

• They have similar interests.

• They received money from an aunt and uncle.

What is an economic want?

• Desire that can be satisfied by consuming a good, a service, or a leisure activity

• Good or service you need to survive and can share with others you know

• Store at the mall

• Place to go on vacation

What is someone doing when they are using or enjoying a good, service, or leisure activity?

• Selling it

• Consuming it

• Looking at it

• Sharing it

Which of these is a service?

• Bubble kit

• Pizza delivery

• Resort stay

• Star Wars toy

How can knowing the opportunity cost help you make a better decision?

• You know what you might be missing.

• You can save your money.

• You can share with friends.

• You know the price of a good.

Which of these is a leisure activity?

• Bubble kit

• Pizza delivery

• Resort stay

• Star Wars toy

Hugo had three wants: a notebook, a day at the water park, a compass. He chose to buy a notebook and a compass. What was his opportunity cost?

• Fun at the water park

• Going camping with the family

• Using a compass on a hike

• Writing in a new notebook

What did scientist Marjorie Harris Carr dedicate most of her life to?

• Amending Florida driving laws

• Creating cell phone technology

• Developing a new board game

• Protecting Florida's natural resources