Economics Final Exam Review

Which person is a consumer?

• The farmer is growing corn.

• The barber is cutting hair.

• A man buys a shirt.

• The cashier is working at the stor.

Which of the following is an example of a need?

• Scooter

• Food

• Candy

• Toy Car

When a person is visiting the dentist for a checkup, the dentist is _________.

• providing a good

• playing a game

• providing a service

Which person is a producer?

• The girl buys a hamburger.

• A boy gets a toy at the store.

• The woman pays for gas.

• The farmer grows apples.

Which of the following is an example of a want?

• Clothing

• Food

• Scooter

• Place to live

The study of making, buying, and selling goods or services is ______.

• Economics

• Producer

• Want

• Good

Which of the following is an example of a good?

• A bike.

• Getting a haircut.

• Going to the dentist.

• Going to the park.

If there were an abundance of oranges, what would happen to the prices?

• It would stay the same.

• It would go up.

• It would go down.

If oranges were scarce, what would happen to the price?

• It would stay the same.

• It would go up.

• It would go down.

Which of these is not a need?

• Bike

• Shirt

• House

• Food