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Economics Flashcards | StudBud
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Economics
Economics
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Flashcards
12 cards
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Questions
12
Answers
1
Supply is the amount of something available to a consumer
False
True
2
What is a service?
something that someone buys for someone else
work that someone does for someone else
3
When I go buy a car, I am a producer.
False
True
4
What is an example of a consumer?
an artist who sells a painting
a person who buys books
a farmer who grows corn
a worker who fixes a truck
5
Cars are an example of a good
False
True
6
When demand for something is high and there isn't enough supply, the price may go up
True
False
7
If the demand for something goes down, the price will go up
True
False
8
What is a consumer?
someone who offers a service
someone who produces a good
someone who cooks food
someone who buys goods or services
9
A TV is an example of a service
True
False
10
What is a producer?
someone who makes or grows good, and offers services
Someone who buys goods
someone who uses a service
11
What are goods?
Someone who does something nice
Things that are fixed
Things that are made or grown
Things that are borrowed
12
What does demand mean?
How much consumers want something
When I am angry
