POB OBJ 5.01 C Vocab
Authored by Andrea Cooper
Business
9th - 12th Grade
Used 10+ times
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8 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Economics
a social science directed at the satisfaction of needs and wants through the allocation of scarce resources which have alternative uses
the state of being scarce or in short supply; shortage
the loss of potential gain from other alternatives when one alternative is chosen
the using up of a resource
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Scarcity
the state of being scarce or in short supply; shortage
the exchange of one thing for another of more or less equal value, especially to effect a compromise
the using up of a resource
People who use goods and services to satisfy their wants
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Economizing
to practice economy; avoid waste or extravagance
People who use goods and services to satisfy their wants
The people who make or provide goods and services
the loss of potential gain from other alternatives when one alternative is chosen
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Opportunity cost
the loss of potential gain from other alternatives when one alternative is chosen
the exchange of one thing for another of more or less equal value, especially to effect a compromise
a social science directed at the satisfaction of needs and wants through the allocation of scarce resources which have alternative uses
The people who make or provide goods and services
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Tradeoffs
People who use goods and services to satisfy their wants
the exchange of one thing for another of more or less equal value, especially to effect a compromise
The people who make or provide goods and services
the state of being scarce or in short supply; shortage
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Consumption
the using up of a resource
the exchange of one thing for another of more or less equal value, especially to effect a compromise
to practice economy; avoid waste or extravagance
the state of being scarce or in short supply; shortage
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Consumers
Usefulness; capable of satisfying wants and needs
The people who make or provide goods and services
People who use goods and services to satisfy their wants
Capable of being touched, smelled, tasted, seen, or heard
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