Philanthropy EconAround Bingo - Introductory Version

Introductory Version Game Sequence

The following is the sequence of the 28 terms and concepts built into Philanthropy EconAround Bingo - Introductory Version.  The logic of this sequence is designed so that both philanthropy and economic terms and concepts build on each other in a spiraling level of complexity, beginning with Benefits and ending with Wants.  Of course, the game can be started at any point in the sequence and continue around to where it first began.  Keep this handy as a reference document while the game is being played so the next expected response from the students can be anticipated by the teacher.

1. Benefits 2. Interest 3. Volunteer 4. Budget 5. Income 6. Invest 7. Trade 8. Charity 9. Incentives 10. Money 11. Spend 12. Needs 13. Goods 14. Natural Resources

15. Services 16. Choice 17. Goals 18. Opportunity Costs 19. Scarcity 20. Common Good 21. Donate 22. Philanthropy 23. Save 24. Consumers 25. Cost 26. Producers 27. Price 28. Wants

Philanthropy EconAround Bingo-Introductory Version
Vocabulary List

Benefits – Something good that happens to someone.

Budget – A spending plan that helps people keep track of their money.

Charity – Money or other help given to aid people in need.

Choice – When someone must make a decision between two or more things.

Common Good – Working together for the benefit of everyone.

Consumers – People who buy or use goods or services.

Cost – The price of a good or service.

Donate – Giving time, talent or treasure with no expectation of something in return.

Goals – Targets that help us achieve something in the future.

Goods – Objects that people can have to satisfy their wants.

Incentives – Positive or negative factors that motivate or influence people.

Income – Money that you take in.

Interest – The money earned on money saved.

Invest – Save money in a way that increases its value for future donating or spending.

Money – What people use to buy goods or services.

Natural Resources – Things from nature that are used to produce goods or services.

Needs – Things we must have or “need” to survive, such as food, water and shelter. 

Opportunity Cost – When a choice is made, the next best thing given up.

Philanthropy – Giving of time, talent or treasure for the common good.

Price – The amount a buyer pays and the seller receives for goods and services.

Producer – People who make or sell goods or provide services.

Save – Keep or put aside money for future wants or needs.

Scarcity – When we cannot have everything we want because all resources are limited.

Services – Actions or work that a person does for someone else to satisfy their wants.

Spend – Use money for something you want or need.

Trade – To exchange goods and services with people for other goods and services.

Volunteer – A person who gives or donates their time without pay.

Wants – Desires for goods and services we would like to have