Goods and Services Flashcard

Front

Which of the following is an example of a service?
Buying a toy,
Getting a haircut,
Owning a book,
Eating an apple

Back

Getting a haircut

Front

What do people need to live?

Back

Food, water, and clothes

Front

What is the relationship between goods and services?

Back

Most goods are made by people doing services

Front

What is an example of a need?

Back

Food

Front

What is an example of a want?

Back

Phone

Front

What are capital goods?

Back

Goods used to make other goods or services

Front

Who are consumers?

Back

People who buy and use goods and services

Front

What is an example of a service?

Back

A haircut

Front

A doctor visit is a good.

Back

False

Front

What is the difference between goods and services?

Back

Goods are tangible and can be touched, services are activities people do for you.