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5 Written questions

5 Multiple choice questions

  1. someone who manufactures something
  2. required payments to government
  3. arrangement for deferred payment for goods and services
  4. Intangible products such as education, health care, insurance, recreation, and travel and tourism
  5. goods and services that one country sells to another country

5 True/False questions

  1. economicsthe study of how people seek to satisfy their needs and wants by making choices


  2. wantsThose things which make our lives more comfortable but are not needed for survival


  3. goodsrequired payments to government


  4. economysystem by which goods and services are produced and distributed to meet people's needs


  5. distributionthe activity of transporting and selling goods to a store or a consumer


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