Get the Goods on Goods and Services

George is checking the newspaper ads for the best place to purchase a quality dishwasher. What type of product is this?

Producers respond to consumers’ positive economic “votes” by

Which of the following is an example of an economic want:

Sugar and flour that are purchased to make baked goods are classified as

An example of a noneconomic want would be the desire for

A restaurant sends its used linens to a laundry service to be cleaned. This service would be classified as a(n) __

What determines whether an economic product is an industrial product or a consumer product?

A characteristic of human wants is that they are

Which of the following is an industrial good:

Which of the following is a characteristic of economic services:

If a good or service is scarce, consumers will usually be

How would a business’s computers be classified?

Susan is willing to pay a high price for the china that she wants for her home. This would be classifed as a __ product.

A manufacturer receives a shipment of bolts for the production of automobiles. What type of industrial product is this?

Why do marketers classify goods and services?

An economic good or service that is scarce is one that is

A laptop purchased to use for homework assignments would be would be classified as a(n) __ good in economic terms..

Cash register tapes and shipping forms used by a business would be classified as industrial

Economic “votes” are cast by consumers each time they

Bread for a family would best be classified as a(n) __________ product.