Economics Vocab
Authored by Brennan Johnson
Social Studies
5th Grade
Used 20+ times
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26 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Someone that provides a good or service is know as the _______.
consumer
seller
buyer
producer
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
This is the amount of product available.
Demand
Scarcity
Opportunity Cost
Supply
3.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
Emily has the choice between buying her new favorite movie on DVD or getting the new pair of sandals she has been wanting. If Emily chooses the shoes, what is her opportunity cost?
The shoes
The DVD
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Someone that buys a good or service is known as the _______.
consumer
seller
buyer
producer
5.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
Opportunity cost is...
the selling of a good or service.
not having enough of a good or service to meet the demand.
what you give up when you choose to buy or do something else.
someone who buys a good or service.
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Goods-or-Services:
doctors
lawyers
barbers
electricians
Wi-Fi
Goods
Services
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Goods-or-Services:
food
cars
clothes
cellphone
pencils
Goods
Services
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