Professional Documents
Culture Documents
Assignment 3
Assignment 3
Two conditions are necessary for the existence of a good: a human want, and a
means that will satisfy that want.
The difference between free goods and economic goods is free goods are those so
plentifully supplied by nature that human effort is not required to obtain. Economic
goods are those that are so scarce relative to human wants that human effort is
required to obtain.
3. In what way does a good fall in the classification of free goods or economic goods?
A good falls in the classification of free goods or economic good will depend upon
circumstances.
4. What is the distinction between consumers goods and producers goods based on?
The distinction between consumers good and producers good is on the character
of the goods themselves, but on the use to which they are put.
Consumers goods and services are used directly to satisfy human wants or
practically speaking, are the goods purchased by the ultimate consumer.
Producers good are those used to produce consumers goods or other producers
good.
B. Change the active construction into the passive and the passive construction into
the actives.
C. Fill in the blanks with the words from the list (words not LETTER)
D. Match the words on the left side with those on the right side which mean the
opposite (xxx xxx)
Left
1. constant h. changeable
2. chief m. subordinate
3. accomplish j. fail
4. borrow n. collect
5. precious c. undervalue
6. amateur i. professional
7. competitor a. partner
8. distribute g. withdraw
9. permit b. prohibit
10. appreciate k. worthless
11. labor e. employer
12. constructive d. destriuctive
13. deposit o. lend
14. concrete f. abstrac
15. rigidity l. flexibility