BUS – Task for 2nd ½ credit
Get the Goods on Goods and Services (Economic Goods and Services)
CCSD syllabus 3: Economic
principles
Directions:
1. The student will locate the publication entitled, “Get the Goods on Goods & Services,” on
my.ccsd.net to read and locate the correct answers for this assignment. Use of an Internet search is
not encouraged. Using the assigned publication will provide you with the correct answers to
achieve success.
2. Identify the correct answer to each of the following questions. The student will submit this assignment in two ways. Do both please. (1) Use a separate sheet of paper to record your responses
and submit to Mrs. Malone; (2) Prepare a Google Doc in MLA format, title “Get the Goods on
Goods & Services,” and share with Mrs. Malone and allow editing to [email protected]
OBJECTIVE A
1. A characteristic of human wants is that they are
a. limited.
b. unchanging.
(5 points)
c. unlimited.
d. consistent.
2. Which of the following is an example of an economic want:
a. Clothing
b. Fresh air
(5 points)
c. Understanding
d. Conversation
3. An example of a noneconomic want would be the desire for
a. police protection.
b. a college education.
(5 points)
c. a friend.
d. concert tickets.
4. An economic good or service that is scarce is one that is
a. in limited supply.
b. not made in America.
(5 points)
c. readily available.
d. not test-marketed.
5. If a good or service is scarce, consumers will usually be
(5 points)
a. uninterested in owning it.
c. unwilling to buy it.
b. able to get as much of it as they want. d. willing to pay money to get it.
6. An economic service differs from an economic good because an economic service is not
(5 points)
a. a physical object.
b. available everywhere.
c. useful.
d. priced according to demand.
LAP-EC-010-CS ©2009, MBA Research and Curriculum Center®
Get the Goods on Goods and Services 1
BUS – Task for 2nd ½ credit
Get the Goods on Goods and Services (Economic Goods and Services)
CCSD syllabus 3: Economic
principles
7. “Economic votes” are cast by consumers each time they
a. make a purchase.
b. visit a business.
(5 points)
c. respond to a survey.
d. participate in market research.
8. Producers respond to consumers’ positive economic votes by
a. decreasing production.
b. increasing production.
(5 points)
c. producing more industrial goods.
d. classifying their goods and services.
OBJECTIVE B
9. A student purchased a laptop to use for homework assignments. In economic terms, this computer would be classified as a(n) __________ good.
(5 points)
a. capital
b. consumer
c. ultimate
d. industrial
10. Each day, a restaurant sends its used linens to a laundry to be cleaned and pressed. In economic terms, the laundry service would be classified as a(n) __________ service.
(5 points)
a. consumer
b. ultimate
c. tangible
d. industrial
11. Which of the following is an industrial good:
a. Tires for a tow truck
b. Matt’s cell phone
(5 points)
c. Holiday flowers
d. Emily’s home computer
12. What determines whether an economic product is an industrial product or a consumer product?
(5 points)
a. The price of the product
b. Who buys and uses the product
c. The origin of the product
d. Who produces the product
13. Why do marketers classify goods and services?
a.
b.
c.
d.
(5 points)
To determine promotional budgets
To determine prices to charge for goods and services
To aid in marketing planning
To decide whether to increase production
LAP-EC-010-CS ©2009, MBA Research and Curriculum Center®
Get the Goods on Goods and Services 2
BUS – Task for 2nd ½ credit
Get the Goods on Goods and Services (Economic Goods and Services)
CCSD syllabus 3: Economic
principles
14. Bread for a family would best be classified as a(n) __________ product.
a. shopping
b. installation
(5 points)
c. specialty
d. convenience
15. George has decided to purchase a dishwasher. He is checking the newspaper ads for the best
place to get quality goods and services at a reasonable price. What type of product is the dishwasher?
(5 points)
a. Capital
b. Convenience
c. Shopping
d. Specialty
16. Susan is willing to pay a high price for the brand of china that she wants for her home. This china would be classified as a(n) __________ product.
(5 points)
a. shopping
b. industrial
c. specialty
d. convenience
17. Sugar and flour that are purchased to make baked goods are classified as
a. parts.
b. installation.
(5 points)
c. supplies.
d. materials.
18. A car manufacturer receives a shipment of bolts that are going to be used in the production of
automobiles. What type of industrial product would the bolts be?
(5 points)
a. Equipment
b. Parts
c. Materials
d. Supplies
19. How would a business’s computers be classified?
a. As parts
b. As equipment
(5 points)
c. As supplies
d. As an installation
20. Cash-register tapes and shipping forms used by a business would be classified as industrial
(5 points)
a. equipment.
b. parts.
c. materials.
d. supplies.
Criterion Level: 80 points. The student must achieve 80% or more correct to receive any score.
LAP-EC-010-CS ©2009, MBA Research and Curriculum Center®
Get the Goods on Goods and Services 3