Unit 1 Economics Review

What makes a production possibilities curve move outward or inward on the graph

• addition or subtraction of goods
• addition or subtraction of resources
• more money
• nothing can make the curve move

What are the four types of economies?

• command, demand, capitalist, communism
• traditional, command, market, mixed
• mixed, market, traditional, primary
• None of the above 

What is a good?

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

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

A crew of men are hired to paint a new house.  They are providing a ____

• service
• product
• specialization
• good

Tags

CCSS.RF.3.3B

CCSS.RF.3.3C

CCSS.RF.3.3D

CCSS.RF.4.3A

CCSS.RF.5.3A

Who buys goods or services?

• Producers 
• consumers