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- 1. Multiple ChoiceWhat is a need?NothingSomething you have to have to liveSomething you would like to haveIce cream
- 2. Multiple ChoiceWhat is a good?A needA baseball gameThings people do for moneyThings that people make or grow
- 3. Multiple ChoiceWhat is a want?A personSomething you would like to have but don't need to livePurpleSomething you need to live
- 4. Multiple ChoiceA person who uses and buys goods and servicesmoneyproducerconsumereconomics
- 5. Multiple ChoiceA person who makes goods or provides a servicegoodsservice producerproducerconsumer
- 6. Multiple ChoiceWhich of the following is not a good?ClothesFoodDog WalkerToys
- 7. Multiple ChoiceWhich of the following is not a service?Dry CleanerCar WashClothesBabysitter
- 8. Multiple ChoiceThings that were not made by humans and are found in naturenatural resourceshuman resourcescapital resourcesservices
- 9. Multiple ChoiceA crew of men are hired to paint a new house. They are providing a ____serviceproductspecializationgood
- 10. Multiple ChoiceTrading something for something else - no currency involveddemandbartergoodsmarket
- 11. Multiple ChoiceTools we use to make productscapital resourceshuman resourcesnatural resourcesentrepreneurs
- 12. Multiple ChoiceHow much people want somethingsupplydemand
- 13. Multiple ChoiceThe idea that resources are limited; we don't have an unlimited supply of what we wantscarcitysupplydemandinflation
- 14. Multiple ChoiceHow much of something is availablesupplydemand
- 15. Multiple ChoiceThe money that remains after all the costs of production have been paid.LossSupplyProfitTax
- 16. Multiple ChoiceResources that can be replaced or renewed like wood, plastic, and rubber.Human ResourcesRenewable ResourcesNonrenewable ResourcesCapital Resources
- 17. Multiple ChoiceWhen someone or a business chooses to specialize or produce certain items.EntrepreneurEconomicsVoluntary ExchangeSpecialization
- 18. Multiple ChoiceA person who comes up with a product or service, and finds the money and time to produce this new product.EntrepreneurIncentiveSpecializationBarter
- 19. Multiple ChoiceThe people who do the labor. Anyone who works.Human ResourceRenewable ResourceSupplyDemand
- 20. Multiple Choice
Farmers grow crops to sell. Farmers are __________.
consumers
producers
- 21. Multiple Choice
When their is a limited amount of resources available
Supply
Command Economy
Opportunity Cost
Scarcity
- 22. Multiple Choice
The benefit you give up by choosing to do one thing instead of another
Opportunity Cost
Profit
Scarcity
Producers
- Answer choicesTagsAnswer choicesTags