1.3: Enough Choice H2a (II)

• Economie
• Middelbare school
• havo
• Leerjaar 2

1.3 "Enough choice"

We are going to go through this lesson again H2a

Slit up with interactive tasks

Fundamental basis of Economics

It is all about choosing

- Goods and Services

- What do governments/buisnesses/customers want?

Choosing how to spend

100 Euros from an Uncle

1 million Euros on the Lottery

Goods and Services

Goods: "You HAVE a good"

A can of pop, a mobile phone, keys, a chair, lamp, laptop, pink scooter

SERVICES: you have it done to you (or to your property)

Watching a film at the cinema, having your car washed, getting your bike fixed, flying to a holiday destination.

Tangibility

A good is something you can touch (it is tangible). 

A can of pop, a pencil, a laptop and a facemask are examples of goods.

A service is intangible (you can't 'touch it').

Having your bike repaired, your car cleaned or flying to England are examples.

COPY last slide

Put  hand up virtually when you have done

They have 3 minutes max.

Quiz: Is it a good or service? 

Is this a 'good' or a 'service' H2a?
A pair of gloves

Good

Service

Is this a 'good' or a 'service' H2a?
A sledge (sleigh in the snow)

Good

Service

Is this a 'good' or a 'service' H2a?
Having your order taken in a restaurant

Good

Service

Is this a 'good' or a 'service' H2a?
Getting your windows cleaned

Good

Service

Is this a 'good' or a 'service' H2a?
The phone or laptop that you are using now

Good

Service

'Free' and 'Economical' Goods

Examples of free goods are oxygen, water from the sky and sunlight 

Examples of free goods are oxygen, water from the sky and sunlight.
Write a definition of a FREE good H2a

Free goods

-They are not man-made (produced)

Examples are water, sunlight and the air we breathe

*copy this down

Choosing- NEEDS and WANTS

-Economics is all about how we fufil (meet) our UNLIMITED wants with FINITE needs

-What we WANT (a new bike) and what we NEED (shelter)

PRIMARY and SECONDARY needs

- Primary needs are BASIC NEEDS

- Essential to live and function 

Mitchell and Nienkes from last week

Can you think of any PRIMARY (basic) needs

Secondary Needs are luxury products (we WANT them but don't NEED them)

Examples are a new mobile phone, a guitar, a holiday, a bluetooth speaker

*Copy this down H2a, thanks

Primary Needs are BASIC needs

Examples are shelter, food, eduction and water

*Copy this down H2a, thanks

Keshia says:
'I can BUY everything I NEED'. Do you agree with her?

Some things cannot be bought...

Love, friends, health :/

Copy this equation in your books please

https:

Your go...

- 'Énough Choice' from page 18

- We have discussed:

- Economics is about CHOICE

- How we fufil our WANTS and NEEDS

- Primary and Secondary NEEDS

- Free Goods

- Income per capita (head) of a country

- Any thing made is SCARCE (is there enough to go around)?

Scarcity: ANY good that is MADE is 'scare'

https://www.tes.com/lessons/m_gv7kdahQrP0A/needs-wants-scarcity-opportunity-cost

Slide 5 is a review of this lesson H2a