Economics

Things that people would like to have.

• needs

• wants

Things that people must have to live

• Needs

• Wants

Three of the following are examples of Needs:

• Water

• Toys

• Food

• Shelter

Two of the following are examples of Wants:

• Water

• Video Games

• Candy

• House

Things that people make, sell and buy are called:

• Goods

• Services

Things that you let other people do for you are called:

• Goods

• Services

Mark all the resources that are considered "Goods."

• Buying an ice-cream

• Purchasing a bag

• Having a haircut

• Buying a banana

Mark all the resources that are considered "Services."

• Having a car wash

• Having your house decorated

• Getting your hair cut

• Buying a car

"Having someone fix your car" is considered a:

• Good

• service

Buying chocolate for Eid is considered a

• Good

• Service