Economics Basics Quiz

The company decides on the ____________________, or how much of something to make.

• demand

• supply

• import

• export

People who make things are called ____________________.

• consumers

• producers

• importers

• exporters

________________ is the act of sending goods from the United States to a foreign country.

• import

• export

• supply

• demand

Books, games, radios, DVD, X-boxes are all products or ________________.

• services

• goods

• imports

• needs

Teachers, nurses, and police all provide a ____________________.

• good

• service

• demand

• supply

________________ is the amount of a product people want to buy.

• supply

• demand

• import

• export

People who buy things are called ________________.

• producers

• consumers

• exporters

• importers

______________ is the act of receiving goods from a foreign country into the United States.

• export

• import

• supply

• demand

Food, water, and shelter are all ________________.

• wants

• needs

• goods

• services

Africa buys raw cotton from the United States. Is this an import or an export?

• Import

• Export

• Neither

• Both