Needs n Wants
Quiz yourself by thinking what should be in
each of the black spaces below before clicking
on it to display the answer.
Help!
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| What is a need? | something you have to have and can't go without
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| What is a want? | something you would like to have but you don't need
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| What are goods? | things you can see and touch
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| What are services? | activities that are consumed at the same time they are produced
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| What are economic resources? | means through which goods and services are produced
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| What is scarcity? | means not having enough resources to satisfy every need
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| What is Economic decision-making? | the process of choosing which wants, among several options, will be satisfied.
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| What is a tradeoff? | when you give up something to have something else
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| How many steps are there in the decision-making process? | six
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| What's the first step of the decision-making process? | define the problem
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Review the information in the table. When you are ready to quiz yourself you can hide individual columns or the entire table. Then you can click on the empty cells to reveal the answer. Try to recall what will be displayed before clicking the empty cell.
To hide a column, click on the column name.
To hide the entire table, click on the "Hide All" button.
You may also shuffle the rows of the table by clicking on the "Shuffle" button.
Or sort by any of the columns using the down arrow next to any column heading.
If you know all the data on any row, you can temporarily remove it by tapping the trash can to the right of the row.
To hide a column, click on the column name.
To hide the entire table, click on the "Hide All" button.
You may also shuffle the rows of the table by clicking on the "Shuffle" button.
Or sort by any of the columns using the down arrow next to any column heading.
If you know all the data on any row, you can temporarily remove it by tapping the trash can to the right of the row.
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Created by:
main92
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