Q.1
What is a need?
  • Nothing
  • Something you have to have to live
  • Something you would like to have
  • Ice cream
Q.2
What is consumption?
  • How a good is moved
  • How a good is created
  • How a good is used
  • How a good is destroyed
Q.3
Another word for money
  • barter
  • economics
  • currency
  • price
Q.4
What is a want?
  • A person
  • Something you would like to have but don't need to live
  • Purple
  • Something you need to live
Q.5
What is a free market economy?
  • An economy based on supply and demand with little or no government control
  • The international exchange of goods
  • An economy in which decisions are made by the government
  • An economy that is communist
Q.6
Which of the following is not a service?
  • Dry Cleaner
  • Car Wash
  • Clothes
  • Babysitter
Q.7
Income set aside for unexpected expenses
  • savings
  • goods
  • services
  • producer
Q.8
A person who buys goods and services
  • consumer
  • entrepreneur
  • resource
  • currency
Q.9
Economic System where there is limited technology and ideas are passed down from generation to generation
  • Command
  • Traditional
  • Mixed
  • Market
Q.10
The majority of the least developed countries can be found on which continent?
  • Africa
  • Asia
  • Europe
  • South America
Q.11
Basic things humans need to survive
  • need
  • want
  • import
  • demand
Q.12
A general increase in prices
  • price
  • inflation
  • scarcity
  • demand
Q.13
What type of economy does the United States have?
  • traditional
  • mixed
  • command
  • market
Q.14
Tools we use to make products
  • capital resources
  • human resources
  • natural resources
  • entrepreneurs
Q.15
Type of Economy where Supply and demand determine prices with little gov intervention
  • Command
  • Market
  • Mixed
  • Traditional
Q.16
Which of these jobs is involved in production?
  • Secretary
  • Factory worker
  • Truck driver
  • Zoo keeper
Q.17
When something given up for something else is called?
  • Choice
  • Capitalism
  • Inflation
  • Opportunity Cost
Q.18
What term refers to a good that leaves a country?
  • Export
  • Import
  • Trade
  • Distribution
Q.19
Services provided by people
  • human resource
  • import
  • scarcity
  • consumer
Q.20
The amount available
  • supply
  • demand
  • import
  • natural resource
Q.21
How much of a good or service consumers want
  • demand
  • spending
  • producer
  • scarcity
Q.22
A person who purchases a good or service
  • consumer
  • taxes
  • supply
  • good
Q.23
A person who provides a good or service
  • producer
  • need
  • want
  • consumer
Q.24
Things purchased by consumers
  • goods
  • consumer
  • producer
  • supply
Q.25
How much of something is available
  • supply
  • demand
Q.26
The amount of money we pay for a good or service
  • currency
  • price
  • inflation
  • economics
Q.27
Something we use from nature
  • natural resource
  • human resource
  • capital resource
  • entrepreneur
Q.28
The place where goods and services are exchanged
  • barter
  • currency
  • market
  • resource
Q.29
Something we pay for that we can touch
  • goods
  • services
Q.30
The using up of a resource
  • scarcity
  • supply
  • services
  • consumption
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