Needs Versus Wants - PowerPoint PPT Presentation

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Needs Versus Wants

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Title: PowerPoint Presentation Author: john Last modified by: john Created Date: 7/12/2006 1:02:18 PM Document presentation format: On-screen Show – PowerPoint PPT presentation

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Title: Needs Versus Wants


1
Needs Versus Wants
Q. What do you really need? Task You have 5
minutes to get with your partner and generate a
list of 10 Needs.
2
Needs Versus Wants
Who is responsible for supplying these needs?
  • Shelter
  • Food
  • Clothing
  • Education
  • Healthcare

3
Needs Versus Wants
Who is responsible for supplying these wants?
Get with your partner and generate a list of 10
economic Wants
Concerts Music CDs Cars Candy Ice Cream
4
Want or Need??
5
Want or Need??
6
Want or Need??
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Want or Need??
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Want or Need??
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Want or Need??
10
Want or Need??
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Want or Need??
12
Scarcity
13
Scarcity
  • Task Get with your partner and generate a list
    of 10 goods or services that are scarce.
  • When something is scarce, what is the price?
  • Q. What happens when an economic Need is Scarce?

14
  • Things that are Scarce in Southbridge
  • Affordable Housing ownership.
  • Venues of Entertainment.
  • Public Transportation
  • High income jobs.
  • How do we solve problems of scarcity?
  • Produce More

15
Factors of Production
16
Factors of Production
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Factors of Production
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Factors of Production
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Factors of Production
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The Final Factor
Someone with the ingenuity to get the other
factors in the right time and at the right place
The Entrepreneur
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