Economics

Who makes a good or provides a service? 

• Consumer

• Producer

• Goods

• Natural Resource

If I buy a product from a seller, I am a _______.

• producer

• consumer

• supply and demand

• entrepreneur

If a person wants to go see a movie, they are a ________.

• producer

• consumer

• good

• service

Milton Hershey and Sam Walton are well known

• presidents

• teachers

• entrepreneurs

• demanders

When there is not enough of a product to meet the needs of the consumers it is called ________.

• bartering

• supply

• scarcity

• demand

If a person trades for goods or services, but doesn't use money, it is called __________.

• consuming

• bartering

• producing

• donating

What is a responsible reason to save money?

• To have money to pay for college.

• To have money to buy candy.

• To have money to buy a new game.

If the supply of an item is high, (there is a lot of it) the price will ________.

• stay the same

• increase

• decrease

• be free

People who take a risk and start their own business are________.

• crazy

• teachers

• scientists

• entrepreneurs

A video game store has too many of the old version of Minecraft. The new Minecraft game is coming soon. What will happen to the price of the old Minecraft game?

• It will increase

• It will decrease

• Nothing will happen

• It will be free