Understanding Needs and Wants

The video tutorial introduces the concepts of needs and wants, explaining that needs are essential for survival, such as food, water, and shelter, while wants are non-essential desires. It discusses how communities help meet needs and how people work to earn money to buy goods and services. The video also covers the importance of making economic choices based on needs and wants. Students are tasked with listing their own needs and wants as an assignment.

What is the main purpose of the video tutorial?

• To learn about historical events

• To understand the difference between needs and wants

• To discuss environmental issues

• To explore different cultures

Which of the following is considered a basic need?

• Food

• A smartphone

• A car

• A video game console

Why do people need shelter?

• To host parties

• To impress others

• To have a safe place to live

• To have a place to store belongings

Which of the following is an example of a want?

• A pet monkey

• Air

• Clothing

• Water

What is the difference between needs and wants?

• Needs are essential for survival, wants are not

• Wants are essential for survival, needs are not

• Both are essential for survival

• Neither are essential for survival

How do people typically acquire goods and services?

• By borrowing

• By trading

• By working and earning money

• By inheriting

What is a service?

• Work done for someone else

• A physical item you can buy

• A form of entertainment

• A type of food

Who are consumers?

• People who produce goods

• People who buy goods and services

• People who sell goods

• People who provide services

What should students do for their assignment?

• Interview someone about their needs

• Write an essay on needs and wants

• Create a list of their own needs and wants

• Draw a picture of their favorite want

Where should students post their assignment?

• On a public forum

• In their class dojo

• On social media

• In a notebook