Learning about how people use money and make choices about what to buy and use.

Things we must have to live and be healthy, like food, water, clothing, and a home.

Things we would like to have but do not need to live, like toys or video games.

Things you can touch and buy, like clothes, books, or food.

Work that someone does to help others, like a teacher teaching or a doctor helping people feel better.

People who buy and use goods and services, like when you buy a snack or get a haircut.

People who make or create goods or provide services, like farmers growing food or builders making houses.

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1st Grade Economics

Flash Cards for key terms covered in 1st grade econ.

Term	Definition
Economics	Learning about how people use money and make choices about what to buy and use.
Needs	Things we must have to live and be healthy, like food, water, clothing, and a home.
Wants	Things we would like to have but do not need to live, like toys or video games.
Goods	Things you can touch and buy, like clothes, books, or food.
Services	Work that someone does to help others, like a teacher teaching or a doctor helping people feel better.
Consumer	People who buy and use goods and services, like when you buy a snack or get a haircut.
Producer	People who make or create goods or provide services, like farmers growing food or builders making houses.

Created by: TiffP79

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