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True or False: A need is something you would like to have but can live without.
False
What is a household?
A group of individuals (such as family members) who live together.
Give two examples of needs.
food, water, shelter, etc...
What does 'collective' mean?
Belonging to everyone.
Give an example of a community need.
police, roads, hospitals, libraries, etc...
Military Services is an example of a need of: (A) Households (B) Country (C) Community
(B) Country
True or False: Social, Serf-esteem and Self-Actualisation needs are primary needs.
False
True or False: The need to have friends is an example of a social need.
True
What is the basic economic problem?
Having unlimited needs and wants but limited resources to satisfy them./Scarcity
True or False: A good is intangible.
False
Give 3 examples of goods.
Various answers
Give 3 examples of services.
Various answers.
A hairdresser can sell goods and services. Explain how this is possible.
Haircut = Service, Hair products = goods
Is education a good or a service?
Service
What do producers do?
They make or develop goods and/or services
Which needs are classified as primary needs in Maslow's Hierarchy of needs?
Physical and Security needs
