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Goods & Services Wants & Needs By Kate Green ITRT – Suffolk City School 2007 SOL – 1.7, 1.8
Needs & Wants People can NOT have all the goods and services they want! You must choose some things and give up others!
Wants Something that you want, but can live without!
Needs Something you have to have to survive! Food Shelter Clothing
Goods Things people make or use to satisfy needs or wants.
Services Activities that satisfy peoples needs and wants. Community Helpers Game
Comparing Goods & Services Comparing Game
Buyer A person who uses money to purchase (buy) goods or services.
Seller A person who sells goods or services.
Producers & Consumers (Seller) (Buyer) Producers Story Consumers Story
Economics Thursday, January 30, 2014 Opening Question What is the difference between WANT and NEED?
Economics Thursday, February 5, Opening Question What is the difference between WANT and NEED?
Economics- the study of how people in a society make a living Economist- a person who studies economic choices.
What is Economics?.
Economics VA SOL Grade 1 Created by: Jody Sommerfeldt SPS ITRT.
Introduction to Economics. What is Economics? Economics is the study of people producing and exchanging to get the goods and services they want. Simply.
Each day you will…. 1. Receive 2 terms and definitions per day 2. Copy a term and definition 3. Write the term in a sentence 4. Repeat At the end of this.
Chapter 3/Lesson 2 Trade Then And Now.
Economic Goods and Services Principles of Business.
The Basic Marketing Concept. 4.1 Marketing Applications A philosophy that a company’s success is ultimately dependent upon efficient identification of.
Needs and Wants Susan Davenport ELL 6050 December 6, 2008.
©2009, TESCCC Second Grade Unit 10 Lesson 1 Goods & Services.
Bajaj Coaching Center, Rohtak Visit bcc2000.com for more Information.
Chapter 1 Economic Decisions.
US Economy Free Enterprise System. What is an economy? An economy is the resources of a country, state, region, or community and how the resources are.
Work for Food, Clothes and Toys Social Studies Online Grade 2.
Capitalism Chapter 19 Lesson 3. Capitalism System where private citizens own and use the factors of production in order to seek a profit.
Factors that Shift Demand & Supply. Variables that influence buyers 1 2 VariableA Change in This Variable... Price of the good itself Income Prices of.
Unit 1, Lesson 2 What Do Economists Study? AOF Business Economics Copyright © 2008–2012 National Academy Foundation. All rights reserved.
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