Economics Review

A consumer is someone who _________.

• makes a product.

• sells a product or service.

• buys a product or service.

Giving money to a charity is an example of _____________.

• buying

• donating

• selling

• saving

Where is the best place to save your money?

• under your mattress

• a bank

• buried in the backyard

• in a kitchen drawer

Products you buy that you can consume, such as toys, food, and clothing are called _____________.

• goods

• services

When you pay for someone to do something for you, such as cut your hair or mow your grass, you are paying for a _____________.

• good

• service

What are things people would like to do or have, but can live without?

• goods

• services

• needs

• wants

What are things that people have to have to survive?

• goods

• services

• needs

• wants

A producer is ___________________________.

• the amount of product that people what to buy.

• someone who makes and sells a product or service.

• a person that uses goods and services.

• the amount of product that businesses are able to sell.

Which entrepreneur is best known for creating Wal-Mart?

• Milton Hershey

• Hershey's Kiss

• Sam Walton

• Wally Martin

Which is an example of a need?

• video game

• mansion

• food

• skateboard