MSTEP Review-Economics

A system by which goods and services are produced and distributed is the:

• economy
• consumer
• interest
• debt

What is a service?

• A job
• Something someone does for you
• A need
• Something you do for another person

What is a need?

• Nothing
• Something you have to have to live
• Something you would like to have
• Ice cream

What is a good?

• A need
• A baseball game
• Things people do for money
• Things that people make or grow

What is a want?

• A person
• Something you would like to have but don't need to live
• Purple
• Something you need to live

A person who uses and buys goods and services 

• money 
• producer 
• consumer 
• economics 

A person who makes goods or provides a service 

• goods 
• service producer 
• producer
• consumer 

Which of the following is not a good?

• Clothes
• Food
• Dog Walker
• Toys

Which of the following is not a service?

• Dry Cleaner
• Car Wash
• Clothes
• Babysitter

Things that were not made by humans and are found in nature

• natural resources
• human resources
• capital resources
• services