Gr8 Unit 1 Quiz

an area in which people manufacture or produce goods and services.

• Economy

• Economics

• Resources

• Needs

goods and services the individual cannot do without.

• Wants

• Unlimited

• Needs

• Satisfy

goods and services the individual can do without

• Resources

• Wants

• Businesses

• Needs

a group of people, often a family, who live together

• Businesses

• Government

• Organization

• Household

the system to govern a state or community

• Housholds

• Businesses

• Governments

• Organizations

not limited; having the greatest possible amount, number, or level

• Satisfy

• Wasting

• Scarce

• Unlimited

an unnecessary or wrong use of money, substances, time, energy, abilities

• Satisfy

• Scarcity

• Unlimited

• Wasting

being the largest amount or number allowed or possible

• Maximum

• Satisfy

• Services

• Goods

things that can be used to achieve a certain goal, e.g. money that can be used to buy products.

• Wants

• Needs

• Services

• Resources

to please someone by giving them what they want or need

• Services

• Satisfy

• Manufacture

• Scarce