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Grade 1 Economics

First Grade Economic Terms (VA SOL 1.7)

TermDefinition
Goods A good is anything you can use or consume, like food or a car.
Services A service is something that someone does for you, like cut your hair.
Consumer Consumers are people who buy goods and services.
Producer Producers are people who sell goods and services.
Needs Needs are things you must have to live. Like food, shelter, air, and water.
Wants Wants are things you would like to have. Like toys, games, and candy. They may make your life easier, but you don’t need them to survive.
Created by: missmalleri
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