Economics Vocabulary Review

Economics Vocabulary Review

4th - 5th Grade

15 Qs

quiz-placeholder

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Economics Vocabulary Review

Economics Vocabulary Review

Assessment

Quiz

Social Studies

4th - 5th Grade

Medium

Used 51+ times

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15 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Human activity that provides the goods or services in an economy.

scarcity

wages

labor

supply

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Different quantity of a resource, good, or service that will be purchased at various prices.

supply

demand

scarcity

surplus

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The most important alternative that is given up as the result of a specific economic condition.

supply

demand

scarcity

opportunity cost

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A payment usually of money for labor or services.

opportunity cost

income

wages

labor

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Different quantity of a resource, good, or service offered for sale at various prices.

supply

demand

scarcity

opportunity cost

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The conditions to not have all the goods and services people want.

supply

demand

opportunity cost

scarcity

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A gain usually in money that comes from labor, business, or property.

income

wages

labor

supply

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