Economics

What is a producer?

• a person that produces a musical

• a person who buys goods

• 1. a person that creates, grows or offers a service.

What is a difference between needs and wants?

• A need is something you can live without and a want is something you must have

• A need is something would like to have, and a want is something you win

• A need you must have to survive and a want is something you desire

What is supply?

• is total amount of an available product

• is how much people want something

• is any item created or grown

When there is a low demand for a good and a high supply the price goes down.

• True
• False

Thanks to agriculture...

• People stayed in one place and created shelters

• Specialized labor emerged

• People started trading goods

• All answers are correct

The following is a

• want

• need

• a good

• a service

A good is any material thing that you can produce, buy or sell

• True
• False

People get their needs and wants by working an earning money?

• True
• False

The difference about promoting a business 100 years ago and today is that before we had internet ad now we don't

• True
• False

Now we can promote our business through...

• Adds in social media

• adds in the T.V.

• passing flyers

• posting in billboards