Economics Vocabulary Terms

Economics Vocabulary Terms

Assessment

Flashcard

Social Studies

7th Grade

Hard

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15 questions

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1.

FLASHCARD QUESTION

Front

a shortage or lack of supply

Back

scarcity

2.

FLASHCARD QUESTION

Front

What is Economics?

Back

a system of producing, distributing, and consuming goods and services

3.

FLASHCARD QUESTION

Front

to buy a product or service

Back

consume

4.

FLASHCARD QUESTION

Front

selling and shipping a product is: ____________________

Back

Distribute

5.

FLASHCARD QUESTION

Front

the desire for a product or service

Back

Demand

6.

FLASHCARD QUESTION

Front

The way a place uses its money, good services, and natural resources.

Back

Economy

7.

FLASHCARD QUESTION

Front

Material found in nature that people can use.

Back

Natural Resource

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