Economics Review

What is not a need?

• home

• clothes

• pool

• water

A ___ is someone who makes a good or provides a service.

• consumer

• producer

A ___ is someone who buys goods and services.

• consumer

• producer

What is a material that people can use?

• consumer

• factory

• resource

• service

What is the amount of product people want or need?

• demand

• goods

• supply

• surplus

What is the amount of product avaliable?

• demand

• goods

• supply

• surplus

What type of system organizes resources?

• geologic

• economic

interdependence is mutually relying on each other to get things done.

• true

• false

What is money received for working?

• budget

• expense

• savings

• income

What is the purpose of a budget?

• to pay less interest

• to buy more things

• to receive more income

• to make responsible choices