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Needs Versus Wants

Needs Versus Wants. Q. What do you really need? Task: You have 5 minutes to get with your partner and generate a list of 10 “Needs”. Needs Versus Wants. Who is responsible for supplying these needs?. Shelter Food Clothing Education Healthcare. Needs Versus Wants.

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Needs Versus Wants

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  1. Needs Versus Wants Q. What do you really need? Task: You have 5 minutes to get with your partner and generate a list of 10 “Needs”.

  2. Needs Versus Wants Who is responsible for supplying these needs? • Shelter • Food • Clothing • Education • Healthcare

  3. Needs Versus Wants Who is responsible for supplying these wants? Get with your partner and generate a list of 10 economic “Wants” Concerts Music CD’s Cars Candy Ice Cream

  4. Want or Need??

  5. Want or Need??

  6. Want or Need??

  7. Want or Need??

  8. Want or Need??

  9. Want or Need??

  10. Want or Need??

  11. Want or Need??

  12. Scarcity

  13. Scarcity • Task: Get with your partner and generate a list of 10 goods or services that are scarce. • When something is scarce, what is the price? • Q. What happens when an economic Need is Scarce?

  14. Things that are Scarce in Southbridge: • Affordable Housing ownership. • Venue’s of Entertainment. • Public Transportation • High income jobs. • How do we solve problems of scarcity? • Produce More

  15. Factors of Production

  16. Factors of Production

  17. Factors of Production

  18. Factors of Production

  19. Factors of Production

  20. The Final Factor Someone with the ingenuity to get the other factors in the right time and at the right place – The Entrepreneur

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