Economics Basics

Imported from external platform

Questions 5

Answers

1
A _____________ issomeone who buys or trades in order to receive the commodity.
commodity
consumer
producer
2
______ is when people must make choices, because they can't have everyting they want.
scarcity
economics
profit
compromise
3
________________ is the exchange of things of value.
compare
market
purchase
trade
4
A ___________ is an item of value that a person can buy or make and then sell to other people.
service
good
producer
consumer
5
Misti knits a sweater and sell it to Erin. In the exchange Erin is the ___________.
producer
retailer
consumer

Imported from external platform

Answers

1
A _____________ issomeone who buys or trades in order to receive the commodity.
commodity
consumer
producer
2
______ is when people must make choices, because they can't have everyting they want.
scarcity
economics
profit
compromise
3
________________ is the exchange of things of value.
compare
market
purchase
trade
4
A ___________ is an item of value that a person can buy or make and then sell to other people.
service
good
producer
consumer
5
Misti knits a sweater and sell it to Erin. In the exchange Erin is the ___________.
producer
retailer
consumer