Economics Vocabulary
Authored by James Williamson
History
8th Grade
Used 6+ times
AI Actions
Add similar questions
Adjust reading levels
Convert to real-world scenario
Translate activity
More...
Content View
Student View
8 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The inability to satisfy all wants at the same time. All resources and goods are limited. This requires that choices be made.
Scarcity
Choice
Cost
Demand
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
factors of production that are used in the production of goods and services
Resources
Supply
Demand
Price
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Materials/substances such as minerals, water, forests, and fertile land that occur in nature and can be used for economic gain.
Human Resources
Capital Resources
Natural Resources
Unlimited Resources
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The set of individuals who make up the workforce of an organization, business sector or economy
Capital Resources
Unlimited Resources
Human Resources
Natural Resources
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
goods produced by man made and used to create other goods and services
Human Resources
Capital Resources
Natural Resources
Unlimited Resources
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
selection of an item or action from a set of possible alternatives. Individuals must choose because goods and services are limited.
Supply
Demand
Choice
Production
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is GIVEN UP when a choice is made. Individuals must consider the value of what is given up when making a choice.
Price
Production
Supply
Opportunity Cost
Access all questions and much more by creating a free account
Create resources
Host any resource
Get auto-graded reports
Continue with Google
Continue with Email
Continue with Classlink
Continue with Clever
or continue with
Microsoft
%20(1).png)
Apple
Others
Already have an account?
