SS.1.E.1.1 Economics Assessment

What are goods and services?

• A good is something you can buy or sell and a service is a job someone does to earn money.

• A good is a treat you can eat and a service is a dance someone does for a crowd.

• A good is something you can pick from a tree and a service is a class.

Furniture, groceries and clothes are ________________.

• services

• goods

These people are providing services or jobs to earn money.

• True

• False

Which of the following is true about needs?

• A need is something we can live with out.

• A need is something we must have to live.

• Needs are not important.

Which of the follow is NOT a need?

• food and water

• air

• toys

• a safe place to live

People should use their money to buy the things they ________________________ before they buy the things they want.

• see

• love

• need

Which of the following are examples of wants?

• water, houses and clothes

• bikes, dolls and video games

• air, food and shelter

Why must we get all our needs?

• They make us unhappy.

• We can't live without them.

• They cost us money.

People work jobs to earn _________________ to buys the things they want or need.

• money

• books

• certificates