Goods and Services Review

Which is an example of a need?

• a baseball

• water

• a computer

• roller skates

Money that people earn is called_________.

• taxes

• income

• loan

Which is an example of a good?

• a police officer

• a teacher

• a video game

• a doctor

Which is an example of a service?

• buying apples at the grocery store

• getting your hair cut at a hair salon or barber shop

• buying toys at a store

• buying a McDonald's Happy Meal

A family chose to go to Cape Splash instead of buying a new movie to watch at home. Which one is their opportunity cost?

• the movie

• going to Cape Splash

What would be a benefit of going to Cape Splash?

• You get can watch the movie as many times as you'd like.

• You can have a fun day outside with your family.

• You can take the movie home.

Someone who makes or grows the goods that consumers want is _________.

• an income

• a producer

• a service worker

Bob has a yellow pencil. Jack has a green pencil. Bob wants the green pencil. Jack wants the yellow pencil. They don't have any money. What should Bob and Jack do?

• barter pencils

• buy more pencils

• sell their pencils

How does the United States get goods that it does not produce?

• It sells goods to other countries.

• It trades goods with other countries.

• It borrows money from other countries.

Which is an example of a want?

• food

• shelter

• clothes

• toys