Econ Terms

Econ Terms

6th - 9th Grade

21 Qs

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Assessment

Quiz

6th - 9th Grade

Medium

Created by

Sarada Jasti Currie

Used 44+ times

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21 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Everything that is used to make something that will be eventually sold.

human resources

capital resources

natural resources

economic resources

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A product that is being sold in the economy; it's a noun.

good

service

currency

human resource

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

An action that is being sold in the economy; it's a verb

good

service

currency

human resource

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Goods and services are bought by people to satisfy their ....

human resources

economic wants

scarcity

economy

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

When you focus on producing one thing so you can do that more efficiently you are ...

scarce

having interdependence

specializing

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

When there is a limit to something you have to make an economic decision. This is because resources are ....

scarce

specialized

interdependent

economic wants

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

When different companies or countries rely on each other to produce what they need ...

specialization

interdependence

scarcity

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