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Economics review Flashcards | StudBud
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Economics review
Economics review
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Flashcards
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Practice quiz
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Questions
11
Answers
1
A _________ is someone who BUYS a good or service
Producer
Goods
Supply
Consumer
2
A_________ is someone who makes or sells a product
producer
good
consumer
demand
3
Haircuts and car washes are examples of__________
Supply
Services
Goods
Demand
4
If there is a HIGH demand for a producer and a LOW supply, then the price will be
Low
High
In the middle
5
Supply is how much a store has of an item.
True
False
6
Which of these are goods?
Book
A and C
Shirt
Doctor
7
Clothes, umbrellas, and computers are all services.
False
True
8
Foods, toys and school supplies are all examples of___________
Demand
Services
Goods
Supply
9
When a lot of people really want to buy an item at the store, that item is in high__________.
Consumer
Demand
Supply
10
Which of these are services?
Dog groomer
Teacher
Dentist
All of the above
11
Which is an example of a business that provides a service?
Clothing store
Grocery store
Candy shop
Car wash
