economics 3.8-3.10

A product that is made for people to buy and use

• a good

• a service

Which is an example of a good?

• mowing the lawn

• shoes

• teaching

Which of these is an example of a service?

• Pencil

• Soccer ball

• Car

• Collecting Trash

A skateboard is a good

• True

• False

Rowan gave Wyatt a movie in exchange for a football. This is an example of ________.

• goods

• buying

• bartering

• money

Why do countries trade with each other?

• to make new friends

• to show off what they have

• to get goods they want or need, but do not produce or grow

_____ are things you buy or trade.

• books

• goods

• economics

Using income for purchases, expenses, and debt

• spending

• savings

• goods

• services

Income set aside for unexpected expenses

• savings

• goods

• services

• producer

things purchased by consumers

• goods

• consumer

• producer

• supply