Lesson 2 of 84 · Economics
⭐ 30 XP⚓ Market PortGoods and Services
Needs are things required for survival: food, water, shelter, clothing.
🎯 Your mission
Spot the cost behind the price.
⚡ The twist
Cheap for you usually means expensive for someone else.
Mind = Blown
🤯 Money used to be made of cocoa beans, salt, and even giant stones.
Then & Now
💱 Every receipt you've ever seen has this idea inside it.
Needs are things required for survival: food, water, shelter, clothing. Wants are extras: toys, games, vacations. Understanding the difference helps us make smart choices.
Key Facts
Every choice has an opportunity cost.
Money is a medium of exchange.
Needs are different from wants.
Check Your Understanding
Question 1
1 of 2What happens when demand is high and supply is low?
Why this still matters
The next time you spend $1, ask: who else benefited besides you?
Stretch Challenge
Try this in real life this week.
Track every dollar you spend or get this week. Then figure out the pattern.
For the dinner table
“If you had $20 to start a business, what would you sell?”
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Goods and Services
Spot the cost behind the price.
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