Basic Economics Vocabulary

Basic Economics Vocabulary

8th Grade

17 Qs

quiz-placeholder

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Basic Economics Vocabulary

Basic Economics Vocabulary

Assessment

Quiz

8th Grade

Medium

Created by

Elizabeth Headley

Used 16+ times

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17 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Selecting an item or action from a set of possible alternatives

choice

anonymity

similarity

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Person who organizes, manages and assumes risk for a business

captain

entrepreneur

chief operating officer

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

amount of money exchanged for a good or service

competitor

option

price

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Using goods or services

labor

consumption

selectivity

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

things that motivate our economic behavior

incentive

commerce

business

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

what is given up when a choice is made

opportunity cost

money

risk

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

combining human, capital, and entrepreneurship to make goods and services

distribution

value

production

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