Economics Vocabulary Terms
Authored by Marci Skigen
History
6th Grade
Used 3+ times
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7 questions
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1.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
What is a medium of exchange used to buy goods and services?
Economic wants
Money/currency
Marketplace
2.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
What is it called when people or factories focus on one product or service?
Scarcity
Interdependence
Specialization
3.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
What are people's desires that can be met by consuming/buying goods and/or services?
Economic wants
Money/currency
Economic Resources
4.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
What is it called when people, businesses, and nations depend or rely on the resources, goods, and services of other people and places?
Specialization
Interdependence
Economic Want
5.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
What is it called when human, natural, and capital resources are used to make a good or provide a service?
Economic resource
Economic want
Marketplace
6.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
What is it called when there aren't enough resources for the wants people have?
Specialization
Interdependence
Scarcity
7.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
What is any place or system where buyers and sellers can do business?
Specialization
Money/Currency
Marketplace
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