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Mrs. Crowe's G/S
Goods and Services
Question | Answer |
---|---|
What do people need to live? | toys and candy, ipads and computers, food and water |
A doctor and farmer are both producers. What are producers? | A person who sells goods and services |
What goods does a chef sell? | footballs, food, computers |
Mrs. Crowe makes a budget. She figures out how much things cost and how to spend her money. What is a budget? | A plan to save and spend money |
What is it called when you give up a choice? scarcity, savings, opportunity cost | opportunity cost |
True or False? To exchange a good or service without the use of money is called bartering or trading. | True |
Who provides both a good AND a service? bus driver, babysitter, or post office | post office |
True or False? To "save for a rainy day" means to go on a fun shopping trip. | False-it means to save money for an emergency, such as needing to fix your car or washing machine |
An example of a consumer is Mrs. Crowe going to the store to buy supplies for William's birthday party | True |
If Mrs. Crowe needs to buy a new computer, she should do which of the following? buy the most expensive computer, look around at different computers and compare prices, buy the computer that is the prettiest | Look around at different computers and compare prices |
If I decide to make a budget, I need to do which of the following? Spend all my money as soon as I get it, make a plan to save and spend money, or find a place to keep all my money | Make a plan to save and spend money |
What is it called when there is a lack of something, such as a peach crop due to a flood or shortage of corn due to a drought? opportunity cost, budget, or scarcity | Scarcity |
Which are consumers? a family eating at Dairy Queen, a mechanic, a teacher | a family eating at Dairy Queen |