Question

EXERCISES

Matching Match each term in Column A with its definition in
Column B.
>
Column A
1. economics
2. goods
3. services
4. producers
5. consumers
6. resources
7. scarcity
8. opportunity cost
Column B
a. go into making goods and services
b. one good or service given up in order to get
another
c. business owners, managers, and workers
d. things of value that cannot be seen or touched
e, the study of the choices people make as
producers and consumers
f. things of value that can be seen and touched
g. those who buy or use goods and services
h. limited supply of goods and services

Answer 1

Answer: See explanation

Step-by-step explanation:

a. go into making goods and services = Resources

b. one good or service given up in order to get another = Opportunity cost

c. business owners, managers, and workers = Producers

d. things of value that cannot be seen or touched= Service

e, the study of the choices people make as producers and consumers = Economics

f. things of value that can be seen and touched= Good

g. those who buy or use goods and services = Consumers

h. limited supply of goods and services = Scarcity