SSA Lesson 8- Understanding Our Economy

Front

A market is a place where

Back

buyers and sellers come together.

Front

Suppose you are a buyer in a market. What do you want?

Back

low prices and good quality

Front

The system in which goods and services are bought and sold is called...

Back

an economy

Front

Which of the following is a good? Options: books, clothing, food, all of the above

Back

all of the above

Front

What is a service?

Back

a task that you pay someone to do for you

Front

A farmer who runs a petting zoo is

Back

providing a service

Front

_________ is when people want more things than they can have.

Back

scarcity

Front

Which of these is something that is scarce? time, apples, shoes, all of the above

Back

all of the above

Front

How do most people get things they want?

Back

They purchase things with money.

Front

A good choice occurs when

Back

benefits are greater than costs.