ESL test: Economics Questions test (1) / Worksheets for english lessons

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People often like to have a lot of material goods but water, food and shelter are basic ......... people and other animals require to stay alive.

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When someone really likes a product but that item is not necessary to stay alive, the product is called a ......... or a luxury.

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The earth supplies us with many beautiful things as well as many natural, raw materials. These usable materials are called ..........

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There are many companies that manufacture products and consumers buy them. The products that people buy are called ..........

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Companies will often use raw materials in order to turn them into usable products that consumers need and want. This process is called ..........

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Some companies, don't specialize in manufacturing, but rather they do work, for a fee, for other people. This work in known as a ..........

Every country experiences ......... at some point or another. This is when a country's wants are larger than the available resources.

Whether it's a natural resource or not, every possible use of a resource is called an ..........

Any item or material that people use to manufacture products or use in order to provide services is called a ..........

There are many companies around the world. The people who own each individual business are called ..........

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