
Economic Terms for SMG
English
1st - 5th Grade
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15 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
To distribute goods, services, and resources. Because all resources are scarce, we must make decisions about using them.
Allocate
Create
Build
Capital
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A spending-and-savings plan, based on estimated income and expenditures (money spent), covering a specific period of time
Plan
Budget
Spreadsheet
Note
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Man-made good used to produce other goods and services; examples include buildings, machinery, tools, and equipment
Resource
Employees
Capital
Price
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
An act of selecting or making a decision when faced with two or more alternatives
Mannerism
Cost
Method
Choice
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Someone who buys and uses goods and services
Producer
Consumer
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The way in which a group of people living in a country decide to produce and distribute goods, services, and resources
Interstate
Market
Travel
Transportation
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
An economy that relies on a system of interdependent market prices to allocate goods, services, and productive resources and to coordinate the diverse plans of consumers and producers, all of them acting according their self-interest
Corporation
Farmer's Market
Natural Resources
Market Economy
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