Economics Quiz

What do you call a person who buys a good or a service?

• consumer

• producer

• service

• goods

What is the term for someone who makes or grows a good or performs a service?

• producer

• consumer

• goods

• service

What does scarcity mean in economics?

• unlimited resources

• making choices due to limited resources

• abundance of goods

• none of the above

What are examples of goods?

• services

• needs

• products you can buy and touch

• wants

What is a service?

• goods

• work performed for others

• consumer

• producer

Which of the following are not necessary for living?

• toys, games, and entertainment

• food

• clothing

• shelter

What are essential goods and services for living?

• toys, games, and entertainment

• food, clothing, and shelter

• services

• consumer goods

What are water, oil, and sunlight examples of?

• Capital resources

• Human resources

• Natural resources

• None of the above

Who are considered human resources?

• Teachers, firefighters, police

• Buildings, tools

• Water, oil

• Sunlight

What category do tools, equipment, and buildings fall into when they can be used repeatedly?

• Capital resources

• Human resources

• Natural resources

• Non-renewable resources