Community and Economy: Vocabulary
Authored by Taresha Scott
Social Studies
5th Grade
Used 4+ times
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14 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
People and things used to produce goods and services
Producer
Resources
Citizen
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Merchandise and skills offered for a price
Profit
Business
Goods and Services
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
An economy in which economic decisions are made in markets
Free Enterprise
Scarcity
Goods and Services
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A situation in which people can't have everything they want due to limited resources.
Profit
Scarcity
Entrepreneur
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The money that is left over after a business pays all its cost.
Consumer
Citizen
Profit
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Someone who makes goods or offers a service that will be sold
Entrepreneur
Profit
Producer
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A person who uses resources to start a business
Citizen
Consumer
Entrepreneur
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