Community Economics Quiz

Income is money you earn from working.

• True

• False

Income helps to pay for wants and needs.

• True

• False

Goods and services are always free.

• True

• False

People can be both producers and consumers.

• True

• False

Which is a natural resource?

• Soil

• Clothes

What is something you need to live?

• Candy

• Water

If someone does not buy anything with their money it means they are

• Saving

• Spending

When an item is on sale it means that it is

• Cheaper

• More expensive

Is food a want or a need?

• Want

• Need

Is a phone a good or a service?

• Good

• Service