71
Lesson 71 of 84 · Economics
Producers and Consumers
A budget plans how to spend and save. Families, businesses, and governments all use budgets. Creating one involves listing income, expenses, and savings goals.
Key Facts
1
Needs are different from wants.
2
Supply and demand affect prices.
3
Trade connects people globally.
Check Your Understanding
Question 1
1 of 2What is the difference between needs and wants?