Economics Review

Natural resources are sometimes called

• tools

• services

• raw materials

• consumers

Someone who works to help other people performs a

• trick

• credit

• product

• service

The United States has a ____________________ economy.

• command

• demand

• market

• mixed

A producer sees that few consumers are buying green golf balls. What is the producer likely to do?

• make more green golf balls

• lower the price

• raise the price

• keep the price the same

What can businesses do to attract more consumers?

• keep quality low

• set high prices

• keep prices low

• provide poor customer service

Businesses that sell goods to other countries are involved in

• conservation

• international trade

• opportunity cost

• interdependence

Someone who makes or sells goods or services is a/an

• customer

• export

• producer

• opportunity cost

Economics is the study of how people use and transfer

• goods

• services

• resources

• exports

Someone who buys or uses goods and services is a/an

• export

• opportunity cost

• consumer

• producer

The equipment and buildings used to operate a business are called

• human resources

• natural resources

• capital resources

• interdependence