4 NW Major 2

What is an example of a producer also being a consumer?

• A farmer growing oranges and eating them.

• A teacher teaching students and buying groceries.

• A baker selling bread and buying flour.

• All of the above.

What does a consumer do?

• Buys goods and services.

• Sells goods and services.

• Creates goods and services.

• Saves money.

Which sentence best completes the diagram: "June earns money from a job"?

• She stops going to work.

• She donates all of her money.

• She spends all of the money on vacation.

• She buys goods and services to meet her needs.

What is the relationship between producers and consumers in economics?

• Producers create goods and services, and consumers use them.

• Consumers create goods and services, and producers use them.

• Producers and consumers are the same.

• Producers only sell goods, and consumers only save money.

Which of the following is NOT an example of a consumer?

• A person buying groceries.

• A person using a taxi service.

• A person saving all their money without spending.

• A person eating at a restaurant.

What is true about the picture?

• The kids are providing a service.

• The man is providing a service.

• The man is consuming ice cream.

• The kids are producing ice cream.

What does the word 'service' mean?

• To eat or drink something.

• An act of helping or doing work for someone.

• To make or create something.

• To receive money in exchange for work.

What does the word 'consume' mean?

• To eat or drink something.

• To make or create something.

• To receive money in exchange for work.

• An act of helping or doing work for someone.

What does the word "save" mean?

• To buy goods or services

• To keep money

• To work for money

• To spend money

What does the word "spend" mean?

• To buy goods or services

• To keep money

• To work for money

• To earn money