What is Economics?

To give money to a bank is a ______________________.

• opportunity cost

• resource

• barter

• deposit

To trade without using money is to ___________________

• opportunity cost

• resource

• barter

• deposit

The thing you give up when you buy something is ________________________________

• opportunity cost

• resource

• barter

• deposit

Anything used to produce goods is a ______________________

• opportunity cost

• resource

• barter

• deposit

A country's system of money is ______________________

• specialization

• currency

• interdependence

• scarcity

Not having enough of something is _______________________

• specialization

• currency

• interdependence

• scarcity

Depending on others to produce things that you need is __________________________________

• specialization

• currency

• interdependence

• scarcity

Making one kind of good or service is a ___________________

• specialization

• scarcity

• interdependence

• currency

Choose the list that shows ONLY NEEDS.

• nail polish, television, sweater

• sweater, water, apple

• shoes, shirt, necklace

• water, shirt, nail polish

When you go to the store and buy a bag of potato chips, you are a _________________________

• producer

• consumer

• natural resource

• human resource