Copy of Economics for Kids: Producers and Consumers

6. According to this video, what is a "service"?

• A service is a THING that people sell to make money.

• A service is the EXTRA money a producer gets when they sell their product.

• Services are different things found in NATURE and then people sell them.

• A service is when someone gets paid for DOING a job for someone else.

8. According to this video, what is a 'producer'?

• people who BUY products 

• people who DO something in exchange for money or people who SELL a product 

• people who PAY others for doing something for them

10. According to this video, what is a 'consumer'?

• a person who MAKES something and sells it

• a person who GROWS something and sells it

• a person who OWNS a business

• a person who PAYS for something

11. Who is the consumer in this picture?

• the lady (baker)

• the dad and his son

12. According to this video, how can a kid be a producer (seller)?

• when a kid sells his/her toys in a yard sale

• when a kid BUYS toys at a yard sale

13. Why would using the money to get a new toy make you a consumer?

• because a consumer MAKES things

• because a consumer SELLS things

• because a consumer BUYS things