Needs and Wants Flashcards

Grade 1 · Social Studies · Flashcards

Review vocabulary for needs and wants in economics.

Flashcards

need: Something you must have to survive and stay healthy
want: Something you would like but do not need to survive
shelter: A home that keeps you safe and protected
food: Something we eat — one of our most basic needs
clothing: What we wear — protects our bodies from weather
choice: A decision between two or more options
money: What people use to buy goods and services
safety: Being free from danger — a basic human need
scarcity: Not having enough of something to meet everyone's needs
budget: A plan for how to spend money
basic needs: The things every person must have: food, water, clothing, and shelter
goods: Things that people make or grow that can be bought or sold