Economics Vocabulary

Economics Vocabulary

5th Grade

28 Qs

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Economics Vocabulary

Economics Vocabulary

Assessment

Quiz

Social Studies

5th Grade

Easy

Created by

Nicole Farinacci

Used 186+ times

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28 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the thing that had to be given up, the second best choice?

Specialization

Interdependence

Opportunity cost

Barter

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is something that is used to produce goods and services?

Resource

Specialization

Scarcity

Demand

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is trading one good or service for another?

Needs

Wants

Interdependence

Barter

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is making one kind of good, or providing one kind of service?

Supply

Specialization

Interdependence

Human resources

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is it called when someone or something is dependent on other countries or people to produce the things you don't produce yourself?

Specialization

Interdependence

Opportunity cost

Economics

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which word means to give money to the bank?

Withdrawl

Deposit

Interdependence

Demand

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which word means to take money out of the bank?

Deposit

Withdrawl

Interdependence

Barter

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