Economic Terms

Economic Terms

Assessment

Flashcard

Social Studies

3rd Grade

Hard

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12 questions

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1.

FLASHCARD QUESTION

Front

Occurs when there is not enough of something you want

Back

scarcity

2.

FLASHCARD QUESTION

Front

A person who uses goods and services

Back

consumer

3.

FLASHCARD QUESTION

Front

What people use to satisfy their needs and wants

Back

resources

4.

FLASHCARD QUESTION

Front

People depending on each other to do their specialized jobs

Back

interdependence

5.

FLASHCARD QUESTION

Front

The thing you give up when you have to make a choice between two or more things

Back

opportunity cost

6.

FLASHCARD QUESTION

Front

A person who makes a good or provides a service

Back

producer

7.

FLASHCARD QUESTION

Front

Something people do for other people to satisfy their needs and wants

Back

service

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