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Needs vs Wants

Total questions: 16

Worksheet time: 12mins

Name
Class
Date
1.

____________ are things required in order to live.

a)

Economic Resources

b)

Needs

c)

Goods

d)

Wants

2.

Living on a budget means you...

a)

can never buy anything fun.

b)

should get everything that you want.

c)

don't have to make choices about your money.

d)

are planning how to spend and save your money.

3.

Something that is

unnecessary to life, but desired.

a)

Need

b)

Well-being

c)

Value

d)

Want

4.

What is an example of Wants

a)

Cell Phone

b)

Water

c)

Food

d)

Shelter

5.

Which option is a Need?

a)

Car

b)

Hot Tub

c)

Nike Sneakers

d)

Ipod

6.

Is this a want or a need?

a)

Need

b)

Want

7.

Which of these explains a want, not a need?

a)

Shelter: If you don't have this you could possibly die in cold weather

b)

Chocolate: People like to eat this as a sweet treat, some may think it's delicious.

c)

Protein: This is important for having good health. It provides valuable nutrients.

d)

Clothes: You wear these to stay warm and out of jail.

8.

What might be some good reasons that a computer is a need and not a want? (Pick 2)

a)

To check Facebook

b)

To do work for a job

c)

To do homework

d)

To play games on the internet

e)

To watch Netflix

9.

You bought a new cellphone because it is the latest one.

a)

NEED

b)

WANT

10.

Car Insurance

a)

Fixed Expense

b)

Variable Expense

11.

Which of these is a want?

a)

Shelter

b)

Food

c)

Accessories

d)

Water

12.

Which of these is a need?

a)
b)
c)
d)
13.

Which one of these items is a need and why?

a)

DVD's: to entertain you when you get bored

b)

a pool: to keep you cool and so you can relax

c)

a million dollars: so you can be rich and possibly famous

d)

a doctor: to provide medical help when needed

14.

Which is a need?

a)

iPhone

b)

medication

c)

coffee

d)

Ray-Ban sunglasses

15.

being popular

a)

want

b)

need

16.

Is this an example of a want or a need?

a)

Want

b)

Need