Berenstein Bears- 12 Terms

2. – A seller at the supermarket or a fair — part of the market supplying goods.
6. – Giving goods without payment, a concept connected to sharing resources and charity economics.
7. – The act of exchanging money for goods or services.
9. – Transferring money in exchange for a product (like when Papa pays for items).
10. – Everyday goods (food, necessities) that people need to live. These are distinguished from non-essentials.
11. – Items the cubs want but don’t need, used in economics to illustrate wants vs. needs.
12. – Small luxury items (like candy) that represent discretionary spending or wants.

1. gimmies – This phrase reflects unlimited wants and helps illustrate that people can’t have everything they desire at once.
3. – A list of items to buy (needs vs. wants) that helps plan and budget purchases.
4. – A type of retail outlet where many different goods are sold, demonstrating how markets offer a variety of choices.
5. aisle – A section in the store where non-necessity goods are sold, reinforcing choices between wants and needs.
8. – The place where purchases are finalized, and money is exchanged. It’s a key step in a market transaction.