50 Nifty Econ-Level 2

The next best choice that you give up.

• Resources
• Opportunity Cost
• Choice
• Option

Gifts of nature used to make goods and services.

• Capital Resources
• Human Resources
• Natural Resources
• Mineral Resources

Workers who make goods and provide services.

• Capital Resources
• Natural Resources
• Human Resources
• Mineral Resources

Goods made and used to produce other goods and services.

• Human Resources
• Capital Resources
• Natural Resources
• Income

Paper money that is used by a country.

• Currency
• Deposit
• Barter
• Price

The amount that people pay when they buy a good or service is called Price.

• True
• False

Amount of money you earn or receive from different sources.

• Currency
• Income
• Barter
• Goods

Things that can satisfy people's wants are called services.

• True
• False

Scarcity is when there is not enough for all who want it.

• True
• False

Activities that can satisfy people's wants.

• Goods
• Money
• Services
• Needs