Chapter 3 Social Studies Regions Scott Foresman Study Guide

Producers Play an Important Part in the economy. True Or False producers make goods or products to sell for a profit

• True

• False

———— are people who buy products

The United States economy is based on the

If a business sets the price for its goods or services high enough pay for its costs and have money left over then it makes a

In a free enterprise economy a business operates on what system ———-and————

The value of the thing you choose not to buy is called the

Something a person MUST have to live

Something a person would like to have but can live without

Trade one kind of goods and services for another

People who MAKE goods or products