Wants and Needs Quiz

What is the difference between wants and needs?

• Needs are things we desire.

• Wants are things we can live without.

• Needs are things we can live without.

• Wants are essential for survival.

Which of the following is an example of a need?

• A movie ticket

• A smartphone

• Food

• A new video game

What is a good definition of goods?

• Things we want but do not need

• Items that can be bought or sold

• Jobs that people do

• Services provided by people

What is a service?

• A type of food

• A job done for someone else

• A place to buy goods

• A physical item you can touch

Why do we need goods and services?

• To make money

• To fulfill our needs

• To fulfill our wants

• To have fun

What is barter?

• Using money to buy things

• A way to save money

• A type of service

• Trading goods without using money

What is the main function of money?

• To trade for goods

• To provide services

• To buy things

• To save for the future

Which of the following is NOT a type of money?

• Cheques

• Coins

• Banknotes

• Barter

What is an example of a job?

• A farmer growing food

• A tree in the park

• A car on the road

• A book on a shelf

What do producers do?

• They sell services.

• They buy goods.

• They create goods.

• They consume products.