Economics Quiz (Goods, services, consumers, producers, ect.)

What is a good?

• something you buy or use

• an action someone does for someone else

• What we need to survive

• a person who buys something

What is a service?

• the amount of something available to consumers

• an action someone does for someone else

• an action someone does for someone else

• a day spent at church

Is the following an example of a good or a service?

Hair Cut

• Good

• Service

Is the following an example of a good or a service?

Corn

• Good

• Service

What is a consumer?

• a person who makes goods or provides services

• a person who buys and uses goods or services

• something you buy or use

• an action someone does for someone else.

What is a producer?

• a person who buys and uses goods or services

• we must have it to survive

• a person who makes goods or provides services

A Hair Stylist would be an example of a...

• Consumer

• Producer

• Good

If I were to go grocery shopping, I would be a ....

• producer

• consumer

• good

• service

What is supply?

• how much consumers want something.

• the amount of something available to consumers

What is demand?

• how much consumers want something.

•  the amount of something available to consumers