BizTown Unit 1 Review

What is someone that buys and uses services and goods called?

• producer
• citizen
• entrepreneur
• consumer

A member of a town, city, county, state, or country is called what?

• person
• representative
• citizen
• human

Someone who starts a business and/or makes a product

• producer
• citizen
• entrepreneur
• consumer

What do you call an economy in which economic decisions are made in markets? (made by the people)

• scarcity
• business
• free enterprise

Businesses produce goods and services for citizens, who in turn supply labor and other resources to the businesses.

• true
• false

Resources are the goods people buy from businesses.

• true
• false

Which best describes the circular flow of an economy?

• flow between businesses and resources
• exchange of money, goods, and services
• happens only in a resource market
• happens only in a goods and servie market

Which is not a type of resource?

• human
• animal
• capital
• natural

What are people and things that are used to produce goods and services?

• options
• resources
• supplies
• materials

Someone that uses resources to start a business is called what?

• producer
• entrepreneur
• consumer
• citizen