Economics Vocab Quiz

A person who uses resources to make goods or provide services is a _____________.

• worker

• producer

• consumer

• specialization

Which is an example of a service?

• babysitting

• milk

• a toy

• clothing

Not being able to meet all your wants because resources are limited

• needs

• specialization

• scarcity

• capital resources

When people focus on providing certain goods and services

• scarcity

• consumer

• specialization

• economic choice

When people trade for things they want but do not have

• scarcity

• specialization

• interdependency

• opportunity cost

The choice given up when you make an economic choice

• capital resource

• goods

• option

• opportunity cost

Which is NOT an example of a capital resource?

• a desk

• a car

• a tree

• a notebook

What is a need?

• something you must have to survive

• something that you would like to have

Exchanging goods and services WITHOUT money is called _____________________.

• buying

• bartering

• purchasing

• stealing

When you choose something from all the options you are given it is called _________________.

• economic choice

• opportunity cost

• goods

• specialization