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Exploring Economics Part 2 Vocabulary

Authored by Lisa Allen

Social Studies

4th Grade

Used 15+ times

Exploring Economics Part 2 Vocabulary
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14 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Trading of objects or ideas

exchange

income

price

incentive

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The money people earn by working

price

income

exchange

incentive

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The pattern in which goods, services, and resources flow in the marketplace.

specialization

division of labor

substitute goods

circular flow

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The amount paid for a good or service

exchange

income

price

incentive

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A good used in place of another good

exchange

division of labor

substitute goods

import

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Rewards or penalties used to cause people to act in certain ways

incentive

import

export

productivity

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

When people make the goods they are best able to produce with the resources available to them

exchange

price

specialization

export

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