Goods and Services
What is something that can be bought, sold, or made?
A. Good
B. Service
C. Producer
A. Good
What are things bought from other countries?
A. Imports
B. Exports
C. Services
A. Imports
What is the amount of something available for sale?
A. Demand
B. Supply
C. Goods
D. Services
B. Supply
Things we would like to have but don't need for survival are things we ___________.
A. need
B. want
C. import
B. want
Best Buy only had a few of the new Xbox Series X in December so the price _____________.
A. decreased (went down)
B. stayed the same
C. increased (went up)
C. increased (went up)
What is an action someone does for someone else?
A. Good
B. Service
C. Producer
B. Service
_______ are things sold to other countries.
A. Consumers
B. Imports
C. Exports
C. Exports
How much people want something is the _________.
A. Demand
B. Supply
C. Goods
D. Services
A. Demand
Things we must have to stay alive are things we __________.
A. need
B. want
C. import
A. need
In November the price of swimsuits ____________.
A. decreases (goes down)
B. stays the same
C. increases (goes up)
A. decreases (goes down)
A ______ is someone who makes or grows a good.
A. Good
B. Producer
C. Consumer
B. Producer
Computers made in China are used by students in Texas are ________.
A. Imports
B. Exports
A. Imports
When the supply is low and the demand is high, the price ___________
A. decreases (goes down)
B. stays the same
C. increases (goes up)
A. goes down
B. stays the same
C. goes up
C. increases (goes up)
Water is an example of a _______.
A. need
B. want
C. import
A. need
Teachers, police officers, and fire fighters are services paid for with ___________.
A. services
B. taxes
C. bartering
B. taxes
A car is an example of a ________.
good
A Mercedes car is made in Germany but sold in Tennessee is an _____________.
A. Import
B. Export
A. Import
When the supply is high and the demand is low the price ____________.
A. decreases (goes down)
B. stays the same
C. increases (goes up)
A. decreases (goes down)
An iPhone 12 Pro is an example of a _________.
A. need
B. want
C. import
B. want
Bob agrees with Joe to trade his football for Joe's baseball. This is an example of ____________.
A. services
B. taxes
C. bartering
C. bartering
Someone who buys goods or services is a __________.
Consumer
Cotton grown in Tennessee is used to make blankets in England is an ____________.
Export
__________ means there is not enough supply to meet demand.
Scarcity
Dr. Pepper is an example of a __________.
Want
What is the study of resources that are used, made, distributed, consumed, and exchanged?
A. economics
B. taxes
C. bartering
A. economics