Economics

Which of these are basic economic needs? Choose all that are correct.

• clothing

• food

• shelter

• X Box One

List 3 goods that could be produced using trees.

• 
• 
• 
• 

Which of these are wants?

• X Box One

• Food

• Swimming Pool

• Scooter

• long term savings goal

• short term savings goal

If you made cookies and sell them at school what are you ?

• good

• service

• producer

• consumer

I bought a lollipop for $1 and sold it to my sister for $2. Did I make a profit or incur a loss?

• profit

• loss

 Taxes pay for things such as roads, ____________, libraries, firefighters, and police officers.

• want

• houses

• taxes

• schools

trading one good or service for another is

• profiting

• bartering

• being nice

What made Jeff Bezos billions of dollars?

• creating a chain of stores with inexpensive goods that became a ton of supercenters

• creating an entertainment studio focusing on cartoons that became a multi-billion dollar industry

• selling books online that turned into Amazon

• hosting successful talk shows that became a major production company

Henry Ford became a rich businessman by -

• starting a tv production company

• selling ice cream

• selling goods online

• selling the first U.S. cars