IN History Lesson 6-3

The way a place uses its resources to produce goods and services is the ___________?

• demand

• economy

• bank

• taxes

A need is something you cannot live without. All of the following are needs except:

• Xbox

• food

• water

• clothing/shelter

What is something that you CAN live without called?

• need

• want

• demand

• supply

What is the word for a person or company that makes a good or a service?

• need

• producer

• consumer

• demand

A person or company that buys a good or service is called a ____________.

• consumer

• producer

• customer

• manager

Currency is the type of _____________ used in a particular place.

What is the amount of product that consumers are willing to buy?

• currency

• producers

• supply

• demand

What is the amount of product that business have available to sell?

• supply

• demand

• currency

• consumer

If products are in demand, the price of it will go ______

If the demand goes down, the price goes ______