Why do we need money?
We need money to buy goods and services to fulfill our needs and wants. (trade)
What are the two kinds of choices that you can make?
Good choices and not so good choices.
Is this an example of a good or service? Why?
Cupcake is an example of good and it is very good indeed!
Is this an example of a good or service? Why?
Hybrid example. The florist provide a service and you take the goods (flowers) home.
Name some choices you make.
We choose which clothes to wear, food to eat, games to play, and many others.
Is this an example of a good or service? Why?
The Prime minister and the leaders of the nation provide their services.
What does it mean to earn money?
We earn when we work, do a job, or provide a service.
True or False: Only grown ups make choices.
Even if you are young, You make choices everyday!
Is this an example of a good or service? Why?
Good!
Is this an example of a good or service? Why?
A counsellor provides their services.
What are the choices that we make with money called?
Economic choices
Is this an example of a good and service? Why?
Service.
What is a choice?
Choice is an option, a decision, an opportunity to choose or select something.