Goods and Services

Which category do farmers belong to?

• goods

• services

• capital resources

• human resources

What category does machinery fall under?

• goods

• services

• capital resources

• human resources

Equipment repair is considered a type of what?

• goods

• services

• capital resources

• human resources

What two words describe the process of making a car with parts from different states?

• surplus

• exports

• specialization

• interdependence

Which of the following is a service?

• sweet corn

• machinery

• equipment repair

• farmers

What category does capital resources include?

• farmers

• machinery

• sweet corn

• equipment repair

Which of the following is an example of specialization?

• Tires manufactured in Texas

• Airbags produced in Utah

• Transmission built in South Carolina

• All of the above

Cause: A crop disease destroys fields of watermelon. What is the effect?

• The price of watermelon increases.

• The price of watermelon decreases.

• The price of watermelon stays the same.

• The price of watermelon goes up and down.

What is the term for the amount of a product that is available?

• Interdependence

• Scarcity

• Supply

• Demand

Which category do services provided by the government fall under?

• Public goods

• Private enterprises

• Public services

• Private goods