Social Studies Quiz - Econ

The thing you give up when you buy something else

• Resource

• Opportunity cost

• Scarcity

Not having enough of something

• Scarcity

• Currency

• Resource

• Barter

Making one kind of good or service

• Opportunity cost

• Deposit

• Specialization

Depending on others to produce things that you need

• Producer

• Currency

• Specialization

• Interdependence

A country's system of money

• Barter

• Currency

• Needs

• Wants

To give money TO a bank

• Deposit

• Withdrawal

To take OUT money from the bank

• Deposit

• Withdrawal

Trade without using money

• Consumer

• Barter

• Producer

• Resource

Anything you can buy that you can hold or touch

• Good

• Service

What is an example of a need

• Water

• Nail polish

• Barbie doll

• XBOX