Economy

A person or company who makes a good or a

service to sell to others

• producer

• advertising

• profit

• division of labor

The use of public notices to bring attention to a

product or service. (Hint they want you to buy.)

• producer

• advertising

• profit

• division of labor

The difference between a business’s total sales

and the business’s total expenses.

• producer

• advertising

• profit

• division of labor

Which of the following is an example of a need?

• clothing

• soccer ball

• skateboard

• laptop computer game

Which is not an example of the government providing a public service?

• roads

• schools

• mail delivery

• Pizza delivery

Which sector provides the most full-time jobs in the United States?

• Construction

• Manufacturing

• Agriculture

• Service

Which sector provides about 7 million full-time jobs in the United States?

• Construction

• Manufacturing

• Agriculture

• Service

What term means that the amount of a resource is limited?

• incentive

• scarcity

• interest

• barter

When someone buys a product they are called a...

• producer

• consumer

• entrepreneur

• decomposer

Which is the difference between a free market economy and a command economy?

• In a free market economy, the government decides which goods and services will be created. In a command economy, the consumers decide.

• In a free market economy, producers decide which goods and services will be created. In a command economy, the government decides.