6 Written Questions

1. Governments tend to produce more ___ than goods in our economy.
2. Both the public and private sectors are ___ parts of the economy.
3. The Veterans Administration provides ___ services.
4. The private sector is usually more ___ than the public sector.
5. Services deemed socially essential, such as universal ___, are provided by the government even though parallel private systems exist.
6. Most goods in a ___ economy are produced by the private sector.

5 Multiple Choice Questions

1. The ___ is the best or only provider of certain services. Services that cannot be denied to those unwilling or unable to pay, such as military or police protection, must be provided by the ___.
   1. government
   2. efficient
   3. market
   4. essential
2. Goods are ___ items (that is, you can touch them). Cars, computers, pencils, and toasters are goods.
   1. profitable
   2. tangible
   3. intangible
   4. market
3. ___ sector industries grow, harvest, or extract natural resources.
   1. Private
   2. military
   3. Public
   4. Primary
4. Governments produce some goods even in a ___ economy.
   1. military
   2. Public
   3. capitalist
   4. Private
5. The public sector provides services that would not be ___ or possible for the private sector to provide.
   1. Primary
   2. profitable
   3. tangible
   4. Private

5 True/False Questions

1. intangible → Services are ___ (they cannot be touched or their physical form is not the benefit they provide). Examples include legal advice, healthcare, entertainment, and education.

   True        False

2. military → ___ sector industries grow, harvest, or extract natural resources.

   True        False

3. Secondary → ___ sector industries manufacture goods, generate power, or construct buildings.

   True        False

4. Public → Most goods in a ___ economy are produced by the private sector.

   True        False

5. Private → The ___ Sector -- businesses

   True        False