Producers and Consumers

A person or business that makes goods is called a ____.

• banker
• consumer
• producer
• trader

A person who buys and uses goods is called a ____.

• supplier
• consumer
• producer
• maker

Which of these is a service, not a good?

• Apples
• Cutting hair
• A book
• A toy car

Goods are things you can touch and own.

• True
• False

Natural resources like wood and cotton are called ____.

• raw materials
• profits
• services
• trade-offs

The money left over after all costs are paid is called ____.

• barter
• demand
• supply
• profit

Producers want consumers to buy their goods so they can earn money.

• True
• False

The next best thing you give up when making a choice is the ____.

• profit
• raw material
• opportunity cost
• demand

When many consumers want a certain product, this is called ____.

• profit
• barter
• demand
• supply

When producers make a lot of a product to sell, this is called ____.

• supply
• demand
• cost
• profit

Prices often go down when demand is high and supply is low.

• True
• False

Trading one good directly for another is called ____.

• barter
• supply
• profit
• labor

Living things that make their own food are called ____.

• producers
• herbivores
• consumers
• decomposers

What process do plants use to make food?

• Respiration
• Decomposition
• Photosynthesis
• Digestion

Green plants can do photosynthesis because they contain ____.

• nutrients
• chlorophyll
• glucose
• oxygen