Producer/Consumer Vocabulary Quiz

Question 1

Things you would like to have, but do NOT need are ____.

Accepted Answer

wants

Question 2

________ is when you send products & resources away to another country.

Accepted Answer

Exporting

Question 3

Products and resources from another country is known as _____ goods.

Accepted Answer

importing

Question 4

Goods or services that can be sold are known as the ______.

Accepted Answer

supply

Question 5

Money used to buy goods and services is ______.

Accepted Answer

trading

Question 6

When you give a good/service to someone in exchange for a different good/service this is called

Accepted Answer

bartering

Question 7

A _____ is work or an action that one person can do for another.

Accepted Answer

service

Question 8

Things that people make or grow and then sell are known as _____.

Accepted Answer

goods

Question 9

A _____ is someone that spends money to buy things they need or want.

Accepted Answer

consumer

Question 10

Items that we _____ are things necessary to live.

Accepted Answer

need

Question 11

A _____ is someone who makes a product or provides a service.

Accepted Answer

producer

Question 12

A ______ is goods or services that people want and can buy.

Accepted Answer

demand

Questions 12