Economics 2

5 Written Questions

1. someone who manufactures something
2. money or goods or services owed by one person to another
3. the activity of transporting and selling goods to a store or a consumer
4. arrangement for deferred payment for goods and services
5. These are the things people cannot live without, such as food, clothing, and shelter.

5 Multiple Choice Questions

1. tax on imported goods
   1. tariff
   2. wants
   3. taxes
   4. credit
2. we rely on others, and others rely on us, to provide the goods and services that we consume
   1. economics
   2. economy
   3. economic interdependence
   4. basic needs
3. the study of how people seek to satisfy their needs and wants by making choices
   1. economy
   2. economics
   3. consumer
   4. goods
4. goods and services that one country sells to another country
   1. economy
   2. goods
   3. exports
   4. wants
5. a person who uses goods or services
   1. producer
   2. economics
   3. consumer
   4. economy

5 True/False Questions

1. taxes → required payments to government

   True        False

2. wants → Those things which make our lives more comfortable but are not needed for survival

   True        False

3. services → Intangible products such as education, health care, insurance, recreation, and travel and tourism

   True        False

4. goods → required payments to government

   True        False

5. economy → the study of how people seek to satisfy their needs and wants by making choices

   True        False