Economics, 7th grade

If you buy an Xbox instead of a PlayStation, the PlayStation is the....

• Oppurtunity cost
• Product
• Good
• Service

The amount of money brought in by a company compared to it's cost is the...

• Revenue
• Money
• Profit
• Economy

Why do you work in a traditional economy?

• Profit
• Past beliefs
• Government
• Relaxation

A phone is an example of a...

• good
• service
• device
• economic system

Not having enough resources to fill your needs is

• limited resources
• productivity
• scarcity
• limitation

Labor is the...

• work you do
• workers
• education of the workers
• person who you're working for

what currency does the U.S use?

• Euro
• US dollar
• Cash money
• Pound

What is the person who comes up with an idea for a good or service?

• A Creator
• Good
• Smart
• Entrepenuer

Things like haircuts or drivers are...

• Services
• Goods
• Talented
• People

Things used to produce a good or service that are not man-made

• Items
• Things
• Goods
• Natural Resources