Unit 1 Economics

A chef cooking you a fancy meal would be an example of a

• Good

• Service

Is a physical product

• Good

• Service

A new car is an example of a service (true or false)

• True

• False

A computer is an example of a good (true or false)

• True

• False

Needs are essential (true or false)

• True

• False

Water would be an example of a want (True or False)

• True

• False

Food is an example of a need (true or false)

• True

• False

All of these are economic resources except

• Natural Resources

• Human Resources

• Individual Resources

• Capital Resources

Water is a type of which resource

• Natural Resource

• Human Resource

• Capital Resource

Money is a type of which resource

• Natural Resource

• Human Resource

• Capital Resource