Goods and Services HW

goods or services that a person may desire, but that are not essential for life, such as toys, games, or candy

• opportunity cost
• wants
• scarcity
• needs

Things that are made or grown and can be sold.

• wants
• goods
• services
• needs

Actions that people do for each other.

• needs
• goods
• services
• wants

What did most people do to get the things they needed before money was used?

• Borrowed

• Stole

• Bartered

• Did without

What is another word for a person who works to produce goods or provides services?

• Human Resource (PRODUCER, SERVICE PROVIDER)

• Natural Resource

• Consumer

• Capital Resource

Tom loaded his truck with vegetables to take to the local farmers' market. His truck was a..

• Natural Resource

• Capital Resource

• Human Resource

• Commercial Resource

Which is an example of a need?

• a baseball

• water

• a computer

• roller skates

Which is an example of a good?

• a police officer

• a teacher

• a video game

• a doctor

Which is an example of a service?

• buying apples at the grocery store

• getting your hair cut at a hair salon or barber shop

• buying toys at a store

• buying a McDonald's Happy Meal

A family chose to go to Dream Park instead of going to the movies. Which one is their opportunity cost?

• the movie

• going to Cape Splash