Vocabulary 1
Classify 1
Classify 2
Vocabulary 3
Vocabulary 2
100
An activity that turn input into output.
What is production?
100
(Good or service?) An economics lesson.
What is a service?
100
(Good or service?) An economics textbook
What is a good?
100
What is the meaning of non-tangible?
Cannot be touched, not physical.
100
The end result of production- the goods and services or products.
What is output?
200
Any resources used in to produce something.
What is input
200
public or private? An economics textbook
What is a private good?
200
Good or service? Retail sales (people sell you things in a shop)
What is a service?
200
This word is the negative form of "rival"?
What is non-rival?
200
Output that is tangible.
What is a good?
300
An activity that fulfills wants.
What is a service?
300
Public or private? An apple.
What is a private good?
300
Public or private? The information in an economics textbook.
What is a public good?
300
This is the noun form of rival.
What is "rivalry"?
300
Goods used by firms to produce other goods or services.
What are producer goods?
400
Goods (or services) used directly by people to satisfy their wants.
What are consumer goods?
400
producer or consumer? A student desk in your bedroom.
What is a consumer good?
400
Producer or consumer? A taxi (the actual car)
What is a producer good?
400
This word means "others can be kept from using it"
What is "excludable"?
400
Goods (or services) that are easily shared without costs to the first user and hard to keep others from using.
What are public goods?
500
A word that means something not easy to share (so we must compete for it)
What is "rival"?
500
Public or private? A recording of a song (maybe an MP3 file or youtube video)
What is a public good?
500
public or private? A library book from the Macau library.
What is a private good.
500
This word means "can be touched," or "physical"
What is tangible?
500
Goods (or services) that cannot be easily shared without cost to the first user and that others can be excluded from using.
What are private goods?
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