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Economics Questions test (1)

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 All tests  Quiz  FAQ  ESL Forum  Dictionaries Could you tell me the difference between need and desire?
economics questions test answer 1
People often like to have a lot of material goods but water, food and shelter are basic needs people and other animals require to stay alive.

Correct answer: (b) needs

Meaning of needs
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economics questions test, question 1 economics questions test (1), worksheets for english teachers, what does needs mean?

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 where can we discuss specific gre subjects like chemistry etc.? What does "requirement" mean?
economics questions test answer 2
When someone really likes a product but that item is not necessary to stay alive, the product is called a want or a luxury.

Correct answer: (a) want

Meaning of want
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economics questions test answer 3
The earth supplies us with many beautiful things as well as many natural, raw materials. These usable materials are called natural resources.

Correct answer: (b) natural resources

Meaning of natural resources
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 where can we discuss specific gre subjects like chemistry etc.? TOEFL essay: reason for choosing a job that you has had or would like to have
economics questions test answer 4
There are many companies that manufacture products and consumers buy them. The products that people buy are called goods.

Correct answer: (c) goods

Meaning of goods
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economics questions test answer 5
Companies will often use raw materials in order to turn them into usable products that consumers need and want. This process is called manufacturing.

Correct answer: (b) manufacturing

Meaning of manufacturing
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economics questions test, question 5 worksheets for efl teachers, what does manufacturing mean? what is the definition for manufacturing?

 where can we discuss specific gre subjects like chemistry etc.? Human wants are regarded as unlimited but acutal wants are what?
economics questions test answer 6
Some companies, don't specialize in manufacturing, but rather they do work, for a fee, for other people. This work in known as a service.

Correct answer: (c) service

Meaning of service
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economics questions test, question 6 economics questions test (1), efl teacher, what does service mean? what is the definition for service?

 where can we discuss specific gre subjects like chemistry etc.? What does it mean "low-end products"?
economics questions test answer 7
Every country experiences scarcity at some point or another. This is when a country's wants are larger than the available resources.

Correct answer: (b) scarcity

Meaning of scarcity
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 where can we discuss specific gre subjects like chemistry etc.? Could you give the synonym of "opportunity" here?
economics questions test answer 8
Whether it's a natural resource or not, every possible use of a resource is called an opportunity.

Correct answer: (a) opportunity

Meaning of opportunity
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 where can we discuss specific gre subjects like chemistry etc.? What does shortage mean?
economics questions test answer 9
Any item or material that people use to manufacture products or use in order to provide services is called a resource.

Correct answer: (b) resource

Meaning of resource
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economics questions test, question 9 nouns worksheets, what does resource mean? what is the definition for resource?

 where can we discuss specific gre subjects like chemistry etc.? How can I improve my grammar?
economics questions test answer 10
There are many companies around the world. The people who own each individual business are called entrepreneurs.

Correct answer: (a) entrepreneurs

Meaning of entrepreneurs
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economics questions test, question 10 english adverbs, what does entrepreneurs mean? what is the definition for entrepreneurs?

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