Economics Test Review

Which is a need?

• tablet

• shelter

• bicycle

• video games

Which is a need?

• soda

• popcorn

• food

• mvoies

Which is a need?

• water

• juice

• soda

• soup

Draw a want:

A diamond necklace is a luxury.

• True

• False

• I'm not sure.

A bed is a luxury.

• True

• False

• I'm not sure.

Producers buy goods and services that consumers make 

• True

• False

Advertisements are designed to help businesses sell their products.

• True

• False

People's desire to buy a product is called _________ .

• scarcity

• supply

• demand

When I use money to buy cereal at the grocery store, I am making a trade with the cashier.

• True

• False

• I'm not sure.