Economics Vocab Test

Quiz
•
Social Studies
•
9th - 12th Grade
•
Medium
Eric Baptist
Used 3+ times
FREE Resource
10 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
Anything that can be used to fulfill a need/want
Resource
Supply
Good
Money
2.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
The study of making decisions about how to use resources
Opportunity Cost
Economics
Trade-off
Money
3.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
The value of exchange for something.
Exchange
Cost
facilitation
Supply
4.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
An item that is used as money, but which also has value from its use as something other than money
Good
Supply
Resource
Commodity Money
5.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
Literally, trading one good or service for another, without using money
Food Stamps
Barter
Sell
Buy
6.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
An accounting tool that lists assets and liabilities
Balance Sheet
Money
Opportunity cost
Economics
7.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
The excess of the asset value over and above the amount of the liability; total assets minus total liabilities
Excess
Trade - Off
Net Worth
Abundance
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