SS.Unit 5. Lesson 1. Goods and Services

________________ are people who buy goods and services.

• Consumers

• Consumer demand

• Limited resources

• Supply

__________________________ is the number of consumers who needs goods and services.

• Consumers

• Consumer demand

• Limited resources

• Supply

What types of things do consumers need?

• clothing

• food

• housing

• all of the above

A ________________________ is a good that is scarce.

• consumer demand

• supply

• housing

• limited resource

What choice can a consumer make when a limited resource is scarce?

• They can buy something else.

• They can buy more of the item.

• They can pay less for the item.

• They can get the item for free.

Saving money is not important.

• True

• False

Sophie gets joy for her new bike. Her joy is a _____________ .

• cost

• money

• benefit

• toy

Putting your money in a bank is one way to ______________ .

• save

• spend

• spend

• waste

Something helpful or good is a _______________ .

• benefit

• supply

• toy

A cost is giving up your money to get goods and services.

• True

• False