FIFTH GRADE ECONOMICS VOCABULARY
Authored by Terry Honeycutt
Social Studies
5th Grade
Used 10+ times
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7 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The benefit missed when an investor, individual or business chooses one alternative over another
Loss
Profit
Opportunity Cost
Monopoly
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What term describes the willingness and ability to purchase a good or service?
Demand
Cost
Supply
Market
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is something manufactured or made for sale?
market
purchase
product
selection
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What term describes work done for others, or activities performed for people to meet a demand, such as cleaning or repairing?
good
labor
service
payroll
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What term describes the amount of goods or services producers are willing to provide?
supply
demand
stock
market
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Investors, individuals, and businesses have choices and choose one alternative over another one. What term describes the alternatives that are NOT chosen?
Loss
Profit
Opportunity Cost
Monopoly
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is an economy centered on the production, consumption, trade, and sale of agricultural products, including plants and livestock?
laboratory economy
agrarian economy
factory economy
industrial economy
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