Buying and Selling - Re-take Quiz

Alex had to go to the market to buy bananas, apples, and oranges. What does market mean in this sentence?

• the amount of a good or service available

• what we gain when we buy something

• anywhere goods and services are sold

Several people want to buy Easter bunnies right now. There is a high demand for them. What does demand mean in this sentence?

• the amount of a good or service available

• what we gain when we buy something

• the need or desire for a good or service

We must pay the doctor for his service before we leave the office. What does service mean in this sentence?

• work done by someone for others

• what we gain when we buy something

• the need or desire for a good or service

A person who buys goods and services

• consumer
• entrepreneur
• resource
• currency

How much people want something

• supply
• demand

Items that can be purchased

• goods

• services

The place where goods and services are exchanged

• barter
• currency
• market
• resource

a shortage; not enough

• scarcity

• supply

• demand

• inflation

How much of something is available

• supply
• demand

The exchange of goods and services

• trade
• market
• economics
• consumer