ShowMe Missouri Economics

What does the term "demand" mean?

• The money citizens pay the government based on their income.

• materials from nature used to produce goods and services

• The total amount of good and services that customers will buy at a certain price.

• The amount of a good or service available.

Which of the following are true about an economy? Choose 2 answers

• In the United States, we have a free-market economy. We can freely buy and trade goods and services.

• it is the way that our government is divided into 3 separate branches.

• In a healthy economy, the demand for goods and services is low

• An economy is the way a country manages its money and resources to produce, buy and sell goods and services.

What does the term supply mean?

• The workforce

• the total amount of goods or services available for customers to buy

• money collected by the state and local government

When the supply is Low and the demand is HIGH, the price will....

• Go UP

• Go DOWN

When the supply is HIGH and the demand is LOW, the price will...

• Go UP

• Go DOWN

The People involved in the production of goods and services are an example of what kind of resource?

• Human resource

• Natural Resource

• Capital Resource

The materials from nature that are used to produce goods and services are an example of what kind of resource?

• Human resource

• Natural resource

• Capital resource

The workforce is a...

• human resource

• capital resource

• natural resource

Goods that are used to make other goods and services are ...

• natural resources

• human resources

• capital resources

Forest, land, water, and minerals are examples of ...

• human resources

• natural resources

• capital resources