16
Lesson 16 of 84 · Economics
How Prices Work
Needs are things we must have to survive: food, water, clothing, and shelter. Wants are extra things we would like, such as toys and candy.
Key Facts
1
Needs are different from wants.
2
Money helps people buy things.
3
Saving means keeping money for later.
Check Your Understanding
Question 1
1 of 2What is the difference between needs and wants?