Chapter 8 Quiz

Why do people save money?

• They like to spend paper bills and coins.

• They want to buy something later when they have enough money.

• They want to sell things before they buy anything.

• They can write a check to pay for something.

Things that people make or use to satisfy wants are called—

• goods

• buyers

• choices

• sellers

What happens when people cannot have all the goods and services they want?

• They sell their goods.

• They take somebody else’s goods.

• They make a choice.

• They find a free service.

People are consumers when they—

• make goods and services

• buy or use goods and services

• save their money to spend later

• know all their choices

Which picture shows a consumer?

• 1

• 2

• 3

• 4

Which picture shows a producer?

• A

• B

• C

• D

When people have a choice to make, what can help them decide?

• A decision-making model

• The ideas from a consumer

• The ideas from a producer

• Charts of goods and services

Which statement is true?

• Decisions only have costs.

• Decisions only have benefits.

• All decisions have costs and benefits.

• All decisions are easy to make.

Which two are examples of money?

• Coins and groceries

• Groceries and a basket of fruit

• Coins and a basket of fruit

• Coins and paper bills