Needs/Want
What are video games, diamond rings, and television sets classified as?
What are wants
Anything someone may want or need
What are Goods
One who uses or buys items, goods, or products.
What is a consumer
The place that deals with money and credit
What is Banking
What is a supply?
What is the amount of a product
What are fruits and vegetables, houses, and clothes classified as?
What are needs
Duties offered in return for goods
What is Services
One who purchases an item.
What is a buyer
An amount of money that one puts into his or her account
What is a deposit
A product that is highly wanted by many people.
What is demand
A source that the media uses to persuade people to things
What is advertising (wants)
The video game Madden 2012 would be an example of what type of good?
What is a Consumer Good
One who creates or supplies a good to sell.
What is producer
The amount of money that one takes out of his or her account
What is a withdrawal
On Black Friday the _(supply/demand)_ for the latest toy is high
What is demand
A time when there are not enough goods and services to meet people's needs is
What is scarcity
Cotton to make clothes would be an example of a what type of good?
What is a Producer Good
The exchange of goods and/or services
What is trade
A sum of money that someone borrows from the bank
What is a loan
During the Holiday season, many stores increase their _(supply/demand)_ of Christmas lights.
What is supply
John's dad just bought a speed boat to take fishing on the weekends in the summer. Although John's dad claims he will use this boat for fishing to help feed his family, would this be considered a need or want?
What is a want
A cargo plane that carries goods from east coast to the west coast is what type of good?
What are Capital Goods
What is a market with only one supplier
What is Monopoly.
When one cannot pay back his or her loans to the bank this is called
What is bankruptcy
If a product is excellent quality the demand is a _____ ________. (two words)
What is high demand