5 Questions
Think of any ______
society
Every individual has some amount of only a few of the goods and services that ______ would like to use
she
People in the ______ need many goods and services
society
A family farm may own a plot of land, some grains, farming implements, maybe a pair of bullocks and also the ______ services of the family members
labour
Some others in ______ may not have any resource excepting their own labour services
society
Test your knowledge of basic economic concepts with this quiz on the fundamentals of a simple economy. Explore the various goods and services that individuals require in their everyday lives, and gain insight into the essential elements of an economy.
Make Your Own Quizzes and Flashcards
Convert your notes into interactive study material.
Get started for free
