Economics Vocabulary MS
Authored by Kevin Doyle
Social Studies
6th - 8th Grade
Used 7+ times
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20 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
________________ resources are the things that people use to make the goods or provide their services.
Natural
Capital
Company
Human
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The good or service that you give up when you make an economic choice is called _____________________.
opportunity cost
economic choice
economic interdependence
economic specialization
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The term used when there is not enough of something to go around is __________________.
scarcity
economic choices
resources
opportunity cost
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which type of economy allows the government to determine what to produce, how to produce it, and who gets it?
Command Economy
Market Economy
Traditional Economy
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which type of economy allows people to freely decide what to produce and how to produce it and people get or buy what they can afford?
Command Economy
Market Economy
Traditional Economy
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Trading something for something else - no currency involved
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The buildings, machines, and tools that companies use to make products
capital resources
human resources
natural resources
entrepreneurs
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