Economics

Which is an example of a service?

• book
• police officer
• chair
• backpack

What is a good?

• Something you buy and can physically touch (apple).
• Something you can buy but can not touch (haircut).

Which is a good?

• shopkin toy
• dr. visit
• getting a haircut
• going for a walk

An economic system in which decisions on production and consumption are based upon customs, beliefs, rituals and habits:

• Market
• Traditional
• Command
• Mixed

An economic system in which decisions on production and consumption are made by individuals acting as buyers or sellers:

• Market
• Command
• Mixed
• Traditional

An economic system in which decisions on productions and consumption are made by a central government:

• Command
• Market
• Traditional
• Mixed

________________ is the study of how people use resources.

• Citizenship
• Loyalty
• Economics

• Producer
• Consumer

• Producer
• Consumer

• Producer
• Consumer