
Economics Vocabulary
Flashcard
•
Business
•
8th Grade
•
Practice Problem
•
Easy
Samantha Lewellen
Used 1+ times
FREE Resource
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28 questions
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1.
FLASHCARD QUESTION
Front
resources
Back
all things used in producing goods and services
2.
FLASHCARD QUESTION
Front
opportunity cost
Back
the option you give up when you make a choice
3.
FLASHCARD QUESTION
Front
scarcity
Back
the limited nature of society's resources
4.
FLASHCARD QUESTION
Front
consequence
Back
the result of an action
5.
FLASHCARD QUESTION
Front
distributed
Back
given out
6.
FLASHCARD QUESTION
Front
industries
Back
a group of businesses that produce certain goods or services (for example: the car making industry)
7.
FLASHCARD QUESTION
Front
competition
Back
the struggle among producers for the dollars of consumers that awards us with better quality products at lower prices
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