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Mrs. Crowe's G/S

Goods and Services

QuestionAnswer
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
Created by: Mrs.Crowe
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