When an economic choice is made, it also means another choice is NOT made. For instance, if you choose to eat out at Chik-fil-A you are choosing NOT to eat out at Raising Cane's, or Zaxby's. In economics, this is called...

Economics Review

Flashcard
•
Social Studies
•
8th Grade
•
Hard
Quizizz Content
FREE Resource
Student preview

9 questions
Show all answers
1.
FLASHCARD QUESTION
Front
Back
Opportunity Cost
2.
FLASHCARD QUESTION
Front
The inability to satisfy all wants and needs at the same time, because resources are limited, is known as...
Back
Scarcity
3.
FLASHCARD QUESTION
Front
The combining of resources needed to make goods or provide services is known as...
Back
Production
4.
FLASHCARD QUESTION
Front
Which resource is being described below:
Also known as labor, this resource is the individuals needed to create goods or carry out services.
Back
Human
5.
FLASHCARD QUESTION
Front
Which resource is being described below:
The materials that are found throughout planet Earth, whether on the surface or beneath it. These materials are valuable because they are needed to produce goods.
Back
Natural
6.
FLASHCARD QUESTION
Front
In economics, supply and demand is used to determine what?
Back
Price
7.
FLASHCARD QUESTION
Front
This image is an example of what? Options: Supply and Demand, Price, Incentives, Opportunity Cost
Back
Incentives
8.
FLASHCARD QUESTION
Front
In economics, most people are considered what? Hint: we purchase and use goods and services!
Back
Consumers
9.
FLASHCARD QUESTION
Front
Which resource is being described below:
Money, along with investments such as cryptocurrency, stocks, and interest earned on a home.
Back
Capital
Similar Resources on Quizizz
7 questions
CE 12F : Global Economy

Flashcard
•
8th Grade
9 questions
Economic Concepts and Terminology

Flashcard
•
6th - 8th Grade
9 questions
Economics Vocab

Flashcard
•
8th - 9th Grade
9 questions
ss7e4

Flashcard
•
7th Grade
11 questions
Unit 8 DTQ 1 Demonstration of Understanding

Flashcard
•
8th Grade
9 questions
CE 11 Vocab Review

Flashcard
•
7th - 8th Grade
7 questions
G.r.a.p.e.s

Flashcard
•
6th - 8th Grade
10 questions
CE 11a Economics Flashcard

Flashcard
•
8th Grade
Popular Resources on Quizizz
15 questions
Multiplication Facts

Quiz
•
4th Grade
25 questions
SS Combined Advisory Quiz

Quiz
•
6th - 8th Grade
40 questions
Week 4 Student In Class Practice Set

Quiz
•
9th - 12th Grade
40 questions
SOL: ILE DNA Tech, Gen, Evol 2025

Quiz
•
9th - 12th Grade
20 questions
NC Universities (R2H)

Quiz
•
9th - 12th Grade
15 questions
June Review Quiz

Quiz
•
Professional Development
20 questions
Congruent and Similar Triangles

Quiz
•
8th Grade
25 questions
Triangle Inequalities

Quiz
•
10th - 12th Grade
Discover more resources for Social Studies
25 questions
SS Combined Advisory Quiz

Quiz
•
6th - 8th Grade
20 questions
Congruent and Similar Triangles

Quiz
•
8th Grade
14 questions
Exterior and Interior angles of Polygons

Quiz
•
8th Grade
6 questions
Earth's energy budget and the greenhouse effect

Lesson
•
6th - 8th Grade
15 questions
SMART Goals

Quiz
•
8th - 12th Grade
20 questions
Lesson: Slope and Y-intercept from a graph

Quiz
•
8th Grade