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. People's choices about what goods and services to buy and consume determine how resources will be used. Explain why a choice must be made, when given some land and a list of alternative uses for the land. Whenever a choice is made, something is given up. Choose a toy from a list of four toys and state what was given up.