If additional funds are budgeted for police patrols, less money is available to hire more teachers. Explicitly comparing the value of alternative opportunities that are sacrificed in any choice enables citizens and their political representatives to weigh the alternatives in order to make better economic decisions. This analysis also makes people aware of the consequences of their actions for themselves and others, and leads to a heightened sense of responsibility and accountability. People make choices because they can't have everything they want. Identify some choices they have made and explain why they had to make a choice.
Economic wants are desires that can be satisfied by consuming a good, service, or leisure activity.
Match a list of wants with the correct example of a good, service or leisure activity that satisfies each want. Goods are objects that can satisfy people's wants. Create a collage representing goods that they or their families consume. Services are actions that can satisfy people's wants. Create a collage representing services that they or their families consume.