Needs Wants Economics Basics
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Needs Wants Economics Basics
🏠 Part 1: Needs vs Wants
A NEED is: _________________________________
A WANT is: _________________________________
⚖️ Part 2: Scarcity and Choices
When there is _____________ of something, people have to make _____________ about what to buy or use.
🏪 Part 3: Producers and Consumers
A good is: _________________________________________________
A service is: ______________________________________________
🤝 Part 4: Interdependence
The farmer grows _____________ and sells them to the _____________ who then sells them to _____________. If the farmer stopped growing food, then _________________________________________________.
🎯 Part 5: Putting It All Together
Something you need: ________________________________________
Something you want: _______________________________________
A choice you had to make: __________________________________
A producer you depend on: __________________________________
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