Chapter 4 Quiz - Economy

What are things we must have to live every day?

• needs

• survival tools

• wants

What are things we would like to have but do not need to live?

• wants

• needs

• survival tools

What is trading one thing for another without using money?

• barter

• trade

• making a deal

• consuming

Something we buy is called a ____________?

• service

• consumer

• purchase

Which of the following is a need people must have to survive?

• food

• tv

• toys

• candy

Which of the following is a want?

• clothes

• shelter

• new toys

______________ is another word for limited.

• scarce

• common

• tastes good

What is a producer?

• people who make or grow things that others want

• people who purchase goods

• people who barter items at the market

Which 3 are natural resources?

• air

• sunlight

• water

• tractors

Which 2 are capital resources?

• money

• tools

• water

• air