
Economics Vocab
Authored by Ralph Cedillo
Social Studies
11th Grade
Used 3+ times

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20 questions
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1.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
The wealth and resources of a country or region especially in terms of production and consumption of goods
Economy
Industry
Commercial
Need
2.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
The economic activity concerned with the services processing of raw materials and manufacture of goods in factories
Economy
Industry
Commercial
Need
3.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
the study of economic principles and concepts used in decision-making and as such it lies on the border line of economics and business management.
Economy
Industry
Commercial
Need
4.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
circumstances in which something is necessary, or that require some course of action; necessity.
Economy
Commerical
Industry
Need
5.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
something that is desired. It is said that every person has unlimited
Need
Want
Scarcity
Producer
6.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
an estimation of revenue and expenses over a specified future period of time and is utilized by governments, businesses, and individuals
Competition
Revenue
Budget
Producer
7.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
is the difference between the revenue received from the sale of an output and the costs of all inputs, including opportunity
Capital
Profit
Tax
Income
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