BizTown Quiz 1

An economy in which economic decisions are made in markets.

• free enterprise

• scarcity

• producer

• profit

A company that sells goods or services.

• consumer

• services

• business

• citizen

People and things used to produce goods and services.

• resources

• goods

• entrepreneur

• citizen

Someone who buys and uses goods and services.

• consumer

• services

• producer

• citizen

The money that is left over after a business pays all its costs

• free enterprise

• scarcity

• business

• profit

A member of a town, city, county, state, or country.

• resources

• goods

• entrepreneur

• citizen

Merchandise offered in markets for a price. Things people buy and use.

• resources

• goods

• entrepreneur

• citizen

Someone who makes goods or offers services that will be sold.

• producer

• profit

• consumer

• citizen

A situation in which people can’t have everything they want due to limited resources.

• free enterprise

• markets

• scarcity

• services

A person who uses resources to start a business.

• citizen

• producer

• consumer

• entrepreneur