Economics - Third Grade

Front

When a choice is made and something has to be given up, it is called ____________.

Back

opportunity cost

Front

A _________ makes a product (good) or provides a service for consumers.

Back

producer

Front

A resource that comes from nature such as water and trees is called a ___________ _________.

Back

natural resource

Front

This picture is a ____ resource.

Back

Capital

Front

This picture is a ____ resource.

Back

Human

Front

This picture is a ____ resource.

Back

Capital

Front

This picture is a ____ resource. Options: Capital, Human, Natural

Back

Natural

Front

Trading without using money is called?

Back

Bartering

Front

There are enough resources available in the world to meet everyone’s wants and needs.

Back

False

Front

What is it called when a company focuses on making only one product?

Back

specialization