Economics

What does a baby sitter provide ?

• good

• service

A resource that comes from nature such as water and trees is called a ___________ _________.  

• natural resource
• intermediary resource
• capital resource
• human resource

What is the definition of scarcity?

• the good things about a choice

• what you must pay for an item

• when the item you want is hard to find

• an extra reason to purchase something

What is the definition of a cost?

• the positive effect

• the negative effect

• the decision you make

What is the definition of a benefit?

• the good things about a choice

• something that was given up when you made a decision

• an extra reason to purchase something

• the amount of people who want to purchase an item

The people who buy or purchase goods or services.

• services

• goods

• consumers

• producers

Where buyers and sellers exchange goods and services.

• government

• economics

• market

If there are 18 students in the class but there's only 10 textbooks, this is an example of _________.

• scarcity
• trade
• opportunity cost

Is this shelter a want or a need?

• Want
• Need

What is a good?

• something you can touch or feel

• something you can see only

• a feeling

• a person