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- 1. Multiple ChoiceWho is a consumer?A person who buys goods and services.A smart shopperA person who makes and sells goods and services.Someone who spends money constantly.
- 2. Multiple ChoiceWhat are goods?Things in the world.Things that are made or grown and then sold.Only positive things that happen to consumers.An activity that a business or person trades for payment.
- 3. Multiple ChoiceWhat is scarcity?When there is a small amount of something available.A large amount of an item available.Scary things that happen in the economy.This is not part of an economy.
- 4. Multiple ChoiceWhat is supply?The want or need from consumers in an economy.Supply is not part of an economy.The amount of something available.To trade without using money.
- 5. Multiple ChoiceWhat is demand?The amount of an item available to consumers.A good or service that is grown and then sold.How much consumers want something.Demand is only on TV.
- 6. Multiple ChoiceWhat are services?An activity that a business or person trades for payment.Services include clothing, food, and water.An item produced in an economy that you exchange money for.There are no services in our current economy.
- 7. Multiple ChoiceWhat is a producer?Producers are only used in the music industry.A person who makes and sells goods and/or services.A person purchasing the good or service.Producers and consumers are the exact same thing.
- 8. Multiple ChoiceWhen the demand of something goes up, the supply usually goes...UpSidewaysDownGoes to 0 Immediately
- 9. Multiple ChoiceWhen the supply of something goes down, the demand usually goes...UpDownSidewaysOff the Chart
- 10. Multiple ChoiceEconomy is...The wealth and resources of a country or region.Something we talked about in the old days only.Not something kids need to know.Something that is made up by the government.
- 11. Multiple ChoiceWhat are human resources?People who make and sell your products.Things found in nature used to make a product.Goods made and used to produce other goods and services.Not having enough people to work.
- 12. Multiple ChoiceWhat are natural resources?People who make and sell your products.Things found in nature used to make a product.Goods made and used to produce other goods and services.Nature is a beautiful place.
- 13. Multiple ChoiceWhat are capital resources?People who make and sell your products.Things found in nature used to make a product.Goods made and used to produce other goods and services.The United States of America
- 14. Multiple ChoiceWhat are incentives?The amount of product in the market.Something that makes someone more likely to want an item.The person or business that offers the good or service.Items that are produced in an economy.
- 15. Multiple ChoiceWhat is specialization?Method of production to increase efficiency.Method of production to decrease efficiency.Special goods and services in an economy.Services for people with special needs.
- 16. Multiple ChoiceWhat is unemployment?Getting a new job.Not being able to find a job.JobsBeing mean to your boss.
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