Answer the questions below to the best of your ability. Please use your own words when answering.

1. Without using the word "want," how can you define "wants?"

2. Without using the word "need," how can you define "needs?"

3. Why do you think our "wants" are so hard to fulfill? Give two reasons.

4. What do you think are basic "needs" that all people need? (hint: there are three).

5. What are "goods?"

6. What are "services?"

7. Who are "consumers?"

8. Who are "producers?"

9. Why is a producers job difficult?