S.S G4 Ch4:Economy

Workers are paid ______________________ for the work they do.

• export

• import

• wages

• profit

____________________ is a term used to describe a very low supply.

• producer

• Scarcity

• bartering

• consumer

A form of trade in which goods are services are traded for something other than money is called _________________________.

• factory

• export

• import

• bartering

A ______________________ is someone who makes or sells a product.

• producer

• consumer

• good

• service

A ______________________ is someone who buys a good or service.

• consumer

• producer

• factory

• scarcity

The amount of money that is left after all of the overhead has been paid is known as the ________________________.

• producer

• profit

• import

• export

To ______________________ means to buy goods and services from sellers in other countries.

• export

• factory

• import

• profit

To ______________________ means to sell goods and services to people in other countries.

• export

• producer

• wages

• profit

Which of the following would be an example of a business that provides a service?

• grocery store

• car wash

• clothing store

• sporting goods store

If there is a HIGH demand for a product and a LOW supply, then the price will usually be:

• high

• low

• in the middle