Basic Economics

Using goods and services is...

• barter

• distribution

• consumption

• production

A service is something that is made or grown

• True

• False

Trading of one thing for another is... 

• goods

• barter

• services

• production

People pay taxes to pay for public goods and services

• True

• False

Goods are objects that can satisfy people's wants.

• True

• False

Which of these provides a service?

• Housekeeper

• Orange Juice factory

• The cable company installing the cable

• All of the above

Which of the following is a basic need?

• house

• video games

• pet

• garden

How goods are produced or how services are performed is...

• production

• consumption

• distribution

• barter

How people get access to goods and services is...

• scarcity

• production

• consumption

• distribution

Services are actions that help other people.

• True

• False