Economics Quiz

An ____________________ is all the ways people exchange goods and services. It also includes jobs people do.

Which is a producer?

• a baker

• a reader

• a shopper

Which is a consumer?

• a band member performing

• an athlete playing a sport

• a sports fan watching a game

A person can be both a producer and a consumer.

• True

• False

Match the examples of the resource to the correct type of resource.

• A chainsaw

• Human Resources

• Lumber

• Capital Resources

• A Lumberjack

• Natural Resource

A lumberjack spends their days cutting logs, the opportunity cost is the time they could have spent doing something else, like fixing equipment.

• True

• False