Economics

=CPI Assignments=

=**25 Ways To Stretch Your Dollar**=

Economics: Needs and Wants

A) People often want (or value) things they don't possess.
 * 1) Make a 'wish list' of fifteen things you would like to have.
 * 2) Beside each item mark whether you think each one is a need or a want.
 * 3) Highlight the three items on your list that you think most members of the class want. Explain why you made these choices.

B) Imagine you were going to spend three months camping on a tropical island with no services and were allowed to take ten items with you.
 * 1) List the ten items.
 * 2) Compare this list to the list generated in the above activity.
 * 3) Which list has more needs? Can you explain why?
 * 4) Are there any items all members of the class would take? Explain

C) If you have a part-time job or receive pocket money explain how you prioritise the ways in which you will or would like to spend the money. List the ways in which you spend your money (or intend to spend it) and state whether that expenditure is for a need or a want.

D) Think back over your (or your family’s) spending in the last week. List twelve items you spent money on. Then tick the appropriate columns as to whether you consider each item a want or a need.

E) Think carefully and make a list of anything/everything that is available in unlimited quantities (list resources that are not scarce)

** Lemondade Stand: Run Your Own Business and Apply the Laws of Supply and Demand **

Survival Game (groups of 4)

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