PBMF - Chapter 1 Coach Arnold

Front

Your wants can go on and on and they change everyday.

Back

True

Front

You satisfy needs and wants by purchasing and consuming goods and services.

Back

True

Front

Needs are things that add comfort and pleasure to your life. True or False?

Back

False

Front

Wants are things that are required in order to live.

Back

False

Front

_______ are things that you can see and touch.

Back

Goods

Front

______ is an example of a service.

Back

mechanical work

Front

Market price for a product is the point where supply and demand are equal.

Back

True

Front

Raw materials supplied by nature are considered __________.

Back

Natural Resources

Front

Which answer is an example of a human resources? Options: river, air, farmer, building

Back

farmer

Front

All economic resources have a limited supply.

Back

True