Social Studies - Economics

Which is an example of a service?

• buying lunch
• going to see a movie
• visiting the doctor
• buying new shoes

Which is an example of a want?

• water
• clothing
• iPad
• shelter

When you purchase something at a store are you a producer or consumer?

• consumer
• producer

What are goods?

• Things in the world.
• Things that are made or grown and then sold.
• Only positive things that happen to consumers.
• An activity that a business or person trades for payment.

What is an example of a good?

• a haircut

• a toy

• lawn mowed

• wall painted

When there is a high demand for a good/service, then prices will go up.

• True

• False

A person who uses resources to make goods and provide services is called a-

• consumer

• producer

• barterer

• reporter

People who make ice cream are -

• producers

• consumers

People who buy and eat ice cream are -

• producers

• consumers

It's important to spend money on things you need before spending money on things you want.

• True
• False

Tags

CCSS.RI.4.2

CCSS.RI.5.2

CCSS.RL.3.1

CCSS.RL.3.2

CCSS.RL.4.1