CE11 - Economics Vocabulary

CE11 - Economics Vocabulary

8th - 12th Grade

10 Qs

quiz-placeholder

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CE11 - Economics Vocabulary

CE11 - Economics Vocabulary

Assessment

Quiz

Social Studies

8th - 12th Grade

Practice Problem

Medium

Created by

Lindsay Horne

Used 16+ times

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10 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the inability to satisfy all wants at the same time, all resources and goods are limited, limited goods and resources require that choices be made?

resources

entrepreneur

choice

scarcity

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is using goods and services, the fact that consumer preferences and price determine what is purchased or consumed?

choice

consumption

production

scarcity

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the selection of an item or action from a set of possible alternatives, individuals must choose and make decisions about desired goods and services because they are limited.

opportunity cost

consumption

choice

production

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is whatever is given up when a choice is made? Also known as the second-best alternative.

scarcity

resources

opportunity cost

consumption

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is how wealth is produced, divided up, and consumed in human society?

goods and services

supply and demand

resources

economics

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Money is an example of a

market

resource

scarcity

choice

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is any situation in which people interact to exchange goods, services, or ideas?

supply and demand

market

resource

opportunity cost

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