Economics Vocabulary

Economics Vocabulary

8th Grade

23 Qs

quiz-placeholder

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Economics Vocabulary

Economics Vocabulary

Assessment

Quiz

Social Studies

8th Grade

Medium

CCSS
L.11-12.4C, L.7.6, L.6.4C

+7

Standards-aligned

Created by

Jennifer Trice

Used 5+ times

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23 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The number of consumers who want and able to buy a good or service.

demand

supply

opportunity cost

entrepreneur

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

what is needed to make goods and provide services

productive resources

supply and demand

consumer

entrepreneur

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Items for sale that can be touched.

goods

services

demand

profit

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

talents and skills of human beings

labor

land

capital

entrepreneur

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

material from Earth needed to make goods and services

land

labor

capital

entrepreneur

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

things that people must have in order to survive

needs

wants

opportunity cost

scarcity

Tags

CCSS.L.11-12.4C

CCSS.L.6.4C

CCSS.L.7.4C

CCSS.L.8.4C

CCSS.L.9-10.4C

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

the value of the second-best choice that is given up when a decision is made

opportunity cost

producer

profit

scarcity

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