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- 1. Multiple Choice
a shortage or lack of supply
demand
scarcity
consume
supply
- 2. Multiple Choice
What is Economics?
a system of destroying, storing, and consuming goods and services
a system of not producing needed goods and services
a system of producing, distributing, and consuming goods and services
a system of growing plants and trees to better the environment
- 3. Multiple Choice
to buy a product or service
demand
produce
consume
supply
- 4. Multiple Choice
selling and shipping a product is: ____________________
Produce
Distribute
Demand
Supply
- 5. Multiple Choice
the desire for a product or service
Demand
Supply
Consume
Produce
- 6. Multiple Choice
The way a place uses its money, good services, and natural resources.
Economy
Goods
Services
- 7. Multiple Choice
Material found in nature that people can use.
Natural Resource
Human Resource
Capital Resource
- 8. Multiple Choice
The amount of goods and services that are available.
Supply
Demand
Consumer
- 9. Multiple Choice
Sally goes to buy a hot chocolate every morning at the local donut shop. What is she?
Good
Consumer
Producer
- 10. Multiple Choice
Mrs. Bates is a teacher. She provides a
Goods
Service
product
- 11. Multiple Choice
Many people want the latest video game. That means there is a big ……….
Supply
Demand
Product
- 12. Multiple Choice
What is the meaning of GOODS?
items you buy with money
saving money at a bank
services you buy with money
investing your money to buy something you want
- 13. Multiple Choice
What is TRADE?
paying for a good or service
exchanging a good or service for another good or service
asking for something but not being willing to give something in return
exchange a good or service and getting nothing in return
- 14. Multiple Choice
What is the meaning of NEEDS?
items you must have to survive
an item you would like to have
something you think you need, but is not essential for survival
- 15. Multiple Choice
What is the meaning of WANTS?
items you must have to survive
an item you would like to have
food, water, shelter
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