Goods and Services

Which provides both goods and services?

• A babysitter

• A post office

• A bus driver

• A DJ

Items that can be bought, sold, and traded, such as food and computers

• goods

• services

• market

• economics

Tasks you pay someone to do for you

• goods

• services

• market

• necessity

A toy is a service.

• True
• False

A good that lasts 3 years or more when used on a regular basis.  (example: a car)

• Durable Good
• Nondurable Good
• Consumer Good
• Capital Good

A tissue is an example of a...

• Durable good

• Nondurable good

• Service

• Necessity

Which of the following could be considered both a durable good and consumer good?

• Automobile

• candy bar

• dental floss

• a loaf of bread

_____ are goods produced and used to make other goods or services

• natural resources

• human resources

• capital goods

• nondurable goods

The idea that things that are essential for survival are generally inexpensive while we place high dollar values on non-necessities is the concept know as...

• Durability

• Checks and Balances

• Economics

• Paradox of Value

The 2 characteristics of value are:

• durability & nondurability

• goods & services

• scarcity & utility

• economics & government