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1st Grade Economics
| Term | Definition |
|---|---|
| Needs | Things that are necessary to live such as water and food. |
| Wants | Things that people would like to have but do not really need such as a new toy |
| Money | Coins and bills used to buy goods and services. |
| Goods | Physical things that people buy to use, |
| Services | Work done by someone else that you pay for. Example paying someone to mow your yard. |