ECONOMICS
OPPORTUNITY COST
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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____ are things that people make or use to satisfy their needs and wants.
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Goods
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Producers
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Consumers
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services
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Explanation:
Detailed explanation-1: -What are goods? Goods are products and resources that satisfy people’s needs and wants. A good can be a physical object, a provided service or some combination of the two. Virtually anything is a good if it offers some kind of benefit to consumers.
Detailed explanation-2: -Resources are items people use to make or obtain what they need or want. Examples of resources include money, fuel, and labor.
Detailed explanation-3: -Consumers buy goods and services to satisfy their wants, and producers make goods and services.
Detailed explanation-4: -Goods are things that satisfy people’s wants. Goods are things people use.
There is 1 question to complete.