Social+Studies,+Economics

=Why do people have to make economic choices?=
 * =when resources and goods and services are limited, you may have to make a choice!=

=Goods: things that people wish to buy= =Services: when someone does something for you (doctor, teacher, police)= = =

=**__3 Types of Resources:__**=
 * ==Natural (nature's gifts) like water, soil, wood, and coal!==
 * ==Human (workers) like farmers, miners, builders, and painters!==
 * ==Capital (goods made by humans) like hammers, computers, trucks, lawn mowers, and factory buildings!==

=Barter: exchanging of goods and services without use of money= =Money: coins, paper bills, and checks used in exchange for goods and services=

media type="youtube" key="J7hNOt2Y0J8" height="344" width="425"

=Scarcity: not having enough of something= =Consumer: person who uses goods and services= =Producer: person who uses resources to __**make**__ goods or provide services=


 * =How is this kid in the video a consumer? Who are the producers?media type="youtube" key="GawH48QNDfc" height="315" width="420"=

=Which one of these is a producer and which one is a consumer? Check out the links below to quiz yourself!=


 * From the Field to the Market
 * Consumers Slideshow
 * Producers Slideshow
 * Let's Find a Deal