To have a happy, fulfilled, lovely life you'd need

your needs satisfied and some of your wants suppled

Every one is a consumer and

only those doing paid work are producers

studbud

ECONOMICS: The Bare Basics

20 termsStudBud Administration617 plays

BASIC ECONOMIC CONCEPTS FOR JUNIOR SECONDARY

Flashcards20 cardsFPractice quizPHost liveL

Questions 20

Answers

1
Which of the following is a need
Coffee
Coca Cola
Beer
Potable water
2
Needs are the 'things'
provided to us by the government
essential to our survival
all of these
presents we get from family & friends
3
Why is air not on the needs list, after all it is essential for us to exist??!!!
the oxygen in the air we pay taxes for
the government supplys it
all of these
it is free, provided by nature
4
Which of the following are needs
shelter
clothing
food & drink
all of them
5
Which of these is a want
a warm jumper in winter
a pair of Nike Kobe Xs
a roof that doesn't leak water when it rains
a simple meal of meat & vegetables
6
If only our needs were supplied
life could be quite boring
we'd all die of starvation
all of these
we wouldn't need to use our imaginations at all
7
This is an example of a
good
fishing
service
agricultural production
8
Economics is essentially about the _______________ ______________ of goods & services
creation & distribution
all of these
production & consumption
making & provision
9
A service, once performed
the results can sometimes be seen
all of these
are gone
might change people in certain ways
10
The system that provides us with the goods & services we need and want is the
economy
manufacturing sector
natural environment
Solar system
11
It is usually said that, "Wants are _____________________________________"
limited to food, clothing & shelter
finite (or goodnight)
the same as needs
unlimited
12
Wants are the 'things' we'd like to have/use or consume but
all of these
aren't essential for our survival
make our lives more interesting
give us a more fulfilling life
13
Manufacturing provides us with
goods
services
meat
all of these
14
To have a happy, fulfilled, lovely life you'd need
all the 'thing's you want provided
your needs satisfied and every want you could wish for
your needs satisfied and some of your wants suppled
only your wants satisfied
15
Agriculture provides us with
useful services
food and other useful products
all of these
only food
16
A good
has mass & volume
all of these
can be seen
has a physical presence
17
A service is
the performance of any duties or work for another
all of these
are intangible
is some paid work someone does for someone else
18
Every one is a consumer and
retired people are the main producers
everyone is a producer
only those doing paid work are producers
all of these
19
A good example of a need is
good wifi
the latest clothing fashions
food
soft drink
20
Our needs are limited, but most people have _____________________________ wants
unlimited
all of these
numerous
many

ECONOMICS: The Bare Basics Flashcards | StudBud

ECONOMICS: The Bare Basics

20 termsStudBud Administration617 plays

BASIC ECONOMIC CONCEPTS FOR JUNIOR SECONDARY

Flashcards20 cardsFPractice quizPHost liveL

Questions 20

Answers

1
Which of the following is a need
Coffee
Coca Cola
Beer
Potable water
2
Needs are the 'things'
provided to us by the government
essential to our survival
all of these
presents we get from family & friends
3
Why is air not on the needs list, after all it is essential for us to exist??!!!
the oxygen in the air we pay taxes for
the government supplys it
all of these
it is free, provided by nature
4
Which of the following are needs
shelter
clothing
food & drink
all of them
5
Which of these is a want
a warm jumper in winter
a pair of Nike Kobe Xs
a roof that doesn't leak water when it rains
a simple meal of meat & vegetables
6
If only our needs were supplied
life could be quite boring
we'd all die of starvation
all of these
we wouldn't need to use our imaginations at all
7
This is an example of a
good
fishing
service
agricultural production
8
Economics is essentially about the _______________ ______________ of goods & services
creation & distribution
all of these
production & consumption
making & provision
9
A service, once performed
the results can sometimes be seen
all of these
are gone
might change people in certain ways
10
The system that provides us with the goods & services we need and want is the
economy
manufacturing sector
natural environment
Solar system
11
It is usually said that, "Wants are _____________________________________"
limited to food, clothing & shelter
finite (or goodnight)
the same as needs
unlimited
12
Wants are the 'things' we'd like to have/use or consume but
all of these
aren't essential for our survival
make our lives more interesting
give us a more fulfilling life
13
Manufacturing provides us with
goods
services
meat
all of these
14
To have a happy, fulfilled, lovely life you'd need
all the 'thing's you want provided
your needs satisfied and every want you could wish for
your needs satisfied and some of your wants suppled
only your wants satisfied
15
Agriculture provides us with
useful services
food and other useful products
all of these
only food
16
A good
has mass & volume
all of these
can be seen
has a physical presence
17
A service is
the performance of any duties or work for another
all of these
are intangible
is some paid work someone does for someone else
18
Every one is a consumer and
retired people are the main producers
everyone is a producer
only those doing paid work are producers
all of these
19
A good example of a need is
good wifi
the latest clothing fashions
food
soft drink
20
Our needs are limited, but most people have _____________________________ wants
unlimited
all of these
numerous
many