Economics Mini Quiz 1

Limited amount; not enough to go around.

• need

• want

• scarcity

• economics is...

Our desires; these make our lives easier and more satisfying

• needs

• wants

• scarcity

• goods

These are necessary for our survival

• services

• goods

• wants

• needs

Choose all the products (g/s) that are SERVICES

• Construction Crew

• Bus Driver

• Cafeteria

• Lifeguard

Choose all the products (g/s) that are GOODS

• Books

• Boat

• Fishing Pole

• Seafood Market

Products we can see, touch, buy or sell

• needs

• wants

• goods

• services

A product that is considered work that someone does for another

• wants

• needs

• goods

• services

someone who buys and/or uses goods & services (products)

someone who makes and/or sells goods and services (products)

Any place where buyers (consumers) and sellers (producers) come together to exchange profit for products (g/s)

• store

• mall

• internet

• market