Every one is a consumer and

only those doing paid work are producers

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

your needs satisfied and some of your wants suppled

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ECONOMICS: The Bare Basics

20 termsStudBud Administration7 plays

BASIC ECONOMIC CONCEPTS FOR JUNIOR SECONDARY

Flashcards20 cardsFPractice quizPHost liveL

Questions 20

Answers

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

ECONOMICS: The Bare Basics Flashcards | StudBud

ECONOMICS: The Bare Basics

20 termsStudBud Administration7 plays

BASIC ECONOMIC CONCEPTS FOR JUNIOR SECONDARY

Flashcards20 cardsFPractice quizPHost liveL

Questions 20

Answers

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