Have an account?
What are examples of a want?
Which Scenario represents someone getting what they want with limited needs?
People work to earn money to satisfy their needs and save money to satisfy their wants
People find money and buy everything they want
People only buy things they want and nothing they need
What is the definition of a need?
Something that a person desires for pleasure or fun
A football game
Something that is necessary for the survival of an individual
What is the difference between a want and a need?
A need is something people desire and a want is essential for survival
A need is essential for survival and a want is a desire
What is an example of a service?
Cutting neighbors grass
What is an example of a good?
All of the above
What is an example of how people make money?
Buy a dog
Be a teacher
Be a student
What is the definition of good?
Something that you can hold or physically possess
An activity that you complete for fun such as play soccer
What is an example of trade?
Working at a store
Giving someone a pencil in exchange of a eraser
Giving someone money for nothing
What is interdependence?
Depending on two or more people on each other
What is an example of interdependence?
Trade between two countries
What scenario is an example of interdependence?
China and USA have no relationship
China and the USA trade goods and services to help both countries
Countries working independently
USA providing goods for China but get nothing in return