| Vocabulary | Vocabulary Part 2 | Can You Think Of... | Situations and Examples | Bonus |
|---|---|---|---|---|
|
What is something made or grown and can be held in your hand.
What is a good?
|
What is when you use money to get a good or a service.
What is buying?
|
What is (student lists something that can be made or grown.)
What is an example of a good?
|
What is stores can sell for higher prices because everyone wants them.
When SUPPLY is LOW and DEMAND is HIGH...
|
*student gives correct date of teacher's birthday*
What is your teacher's birthday?
|
|
What is something someone does for you.
What is a service?
|
What is the amount of a product available for sale.
What is supply?
|
What is (student lists something that is done for someone for money.)
What is an example of a service?
|
Students list people like doctors, lawyers, hair stylists, teachers, custodians, etc.
List three people in our community that provide services.
|
*student gives an appropriate answer*
Where is your study guide? How often have you looked at it since receiving it?
|
|
What is a person who makes or sells the good or provides the service.
What is a producer?
|
What is the amount of people wanting to buy a product.
What is demand?
|
What is there are 17 students and only 15 pencils, there is a scarcity of pencils. (Students can also give other examples!)
What is an example of scarcity?
|
What is fruit, vegetables, or grains (or other similar examples)
Give three examples of goods that are GROWN.
|
Ringo Starr
Name the drummer for The Beatles.
|
|
What is a person who buys or uses the good or service.
What is a consumer?
|
What is when there isn’t enough of an item to go around.
What is scarcity?
|
Two students show an example of trading one thing for another without using paper/coin money.
Show an example of bartering. Two students in your group act out what bartering is.
|
What is clothes, cars and computers (or other similar examples)
Give three examples of goods that are MADE.
|
*correctly answers the last direction given by the teacher*
What is the last direction your teacher gave?
|
|
What is when you make a trade with no money. For example, I will give you an apple for your cookie.
What is bartering?
|
What is the study of money and how people behave with it.
What is economics?
|
What is stores put items on sale so they can get rid of them.
When SUPPLY is HIGH and DEMAND is LOW...
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We can't predict the future! Saving money helps you be secure for a possible emergency in the future.
Why is it important to save money?
|
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