Economics quiz review

Doctor: Goods or Service?

• Goods
• Service

Dentist: Goods or Service?

• Goods
• Service

Librarian: Goods or Service?

• Goods
• Service

The company needed the following things to make the bike: wheel, wires, person to build, plastic...these are called the..  

• expenses

• profit

Real items, such as cars, watches, and clothing; things people make

• Goods
• Services
• Needs
• Borrower

Money a company earns from selling a product

• loss

• expenses

• Income
• profit

A company has money left over after paying expenses

• expenses

• loss

• profit

• Saver

Someone who buys and uses goods and services

• Producer
• Consumer
• Spender
• Borrower

Any money that you earn or receive from someone

• Borrower
• Saver
• Income
• Taxes

A person who owns a business is called....

• an entrepreneur 
• a representative
• an educator