Exploring Goods and Services in Your Community

What is the title of the book discussed in the video?

• Goods and Services in Our City

• Goods and Services Around Town

• Understanding Economics

• Market Structures and Functions

Which item is mentioned as a good that can be bought?

• School teaching

• Bookstore service

• Car repair service

• Snow cone

What is emphasized about goods in the video?

• They are not necessary

• They are always expensive

• They are only books and toys

• They can be bought and sold

What is a service mentioned in the video?

• Fixing a car

• Selling toys

• Buying a book

• Making shoes

Who are considered consumers?

• Those who make goods

• Those who price goods

• Those who sell goods

• Those who buy goods

What do producers do in the market?

• Sell services

• Make goods

• Buy goods

• Fix prices

What factor influences sellers to lower their prices?

• Increase in production costs

• Lack of consumer interest

• Competition among sellers

• High demand for goods

What year were Cabbage Patch dolls popular?

• 1983

• 1990

• 1975

• 2001

What action do buyers take in the market?

• Choose goods

• Produce goods

• Offer services

• Set prices

What is an example of a need mentioned in the video?

• Food

• A snow cone

• A new toy

• New shoes