WorksheetsGoods, Services, & Value
Total questions: 19
Worksheet time: 10mins
You clogged the pipes while using the restroom, now a plumber has to come and fix the toilet and pipes
Good
Service
Your parents pay for you to have a tutor in math, the subject you are struggling with the most
Good
Service
After lunch, you buy chips and candy from the concessions cart
Good
Service
You take an airplane when you go on a trip
Good
Service
You purchase a game to give as a birthday gift
Good
Service
You visit the doctor for a checkup
Good
Service
You get your haircut
Good
Service
Limited Resources
Producer
Scarcity
Consumer
Goods made by people and used to produce other goods or services
Human resources
Natural resources
Capital Resources
People working to produce goods or services
Natural Resources
Human Resources
Goods
Materials that come directly from nature
Natural resources
Human resources
Capital Resources
Which of the following is considered a nondurable good?
John Deere Tractor
Automobile
Blow dryer
toilet paper
Which of the following could be classed as a durable good?
washing machine
T-shirt
chocolate bar
shampoo
Definition of Marginal Utility
the satisfaction from consumption
to total satisfaction from consuming a product
the extra satisfaction from the last unit consumed
the extra consumption from last unit consumed
The definition of the law of diminishing marginal utility
As more units are consumed the marginal utility falls.
As more units are consumed the marginal utility increases.
As price decreases quantity demanded increases.
As price increases consumers are willing to pay more.
If Ann gets 100 units of utility from reading a book and 500 units of utility from playing with her cat, What can we determine about Ann?
She does not enjoy reading books.
She does not enjoy playing with her cat.
She prefers reading a book to playing with her cat.
She prefers playing with her cat to reading a book.
