1. Satisfying Needs and Wants
Section 1-1

2. Needs and Wants Are essential Required to live Food Water Clean Air
Always Unlimited
Needs and Wants
Needs
Wants
Are essential
Required to live
Food
Water
Clean Air
Clothing
Shelter
Add to quality of life
Add comfort and pleasure CD
Movie
iPod

3. Needs and Wants Activity

4. Goods and Services See and touch
Activities that are consumed at the same time they are produced.

5. Goods and Services Activity

6. U.S. Economy Largest producer of goods and services
Americans consume more than any other country
2x more shopping malls than schools!
Debt through loans and credit cards
Make sure important needs and wants are satisfied

7. Economic Resources Raw materials supplied by nature Oil Minerals
Limited
Economic Resources
Natural Resources
Human Resources
Capital Resources
Raw materials supplied by nature
Oil
Minerals
Nutrients
Bodies of water
Food
People producing goods and services
Anyone involved in producing the product or making it available
Products and money used in production of goods and services
Money
Buildings
Supplies
Equipment

8. Economic Resources Give 5 examples of type of resource
Natural Resources
Human Resources
Capital Resources