SS Unit 4 Part B

1. ________________ The amount of money a business makes.

• Profit

• Loss

• Expense

• Revenue

A system in which goods and services are produced, sold, and bought.

• Economics

• Geography

• Biology

• Physics

Not being able to have all of the goods and services we want.

• Scarcity

• Abundance

• Wealth

• Sufficiency

Is the gas cutting man a good or a service?

• Service

• Good

• Product

• Material

Is the beach ball a good or service?

• Good

• Service

• Person

• Place

Write whether the ice cream is a good or a service.

• Good

• Service

• Person

• Place

Is the doctor a good or a service?

• Service

• Good

• Person

• Place

5. ____________________ is the focus on making one product.

• Specialization
• Supply

• Demand

• Import

Which business would specialize, or become experts, to serve people better?

• doctors

• teachers

• barbers

• all of the above

Many citizens went to the store for batteries before a hurricane, but very few stores had any batteries left to sell. This is an example of ________.

• profit

• producers

• scarcity

• specialization