Economics Vocabulary

Economics Vocabulary

6th Grade

27 Qs

quiz-placeholder

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Economics Vocabulary

Economics Vocabulary

Assessment

Quiz

Social Studies

6th Grade

Practice Problem

Medium

Created by

Jill Kasler

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27 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

What is economics?

The process or system of goods/services that sold, bought, and produced in an area.

The system where people move from place to place.

The process of goods being sent into another country.

I haven't got a clue.

2.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

The amount of something that is available and ready to be sold.

demand

supply

income

profit

3.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Definition for demand....

The amount of money made from a business.

The control of a commodity (a good) or service.

Something that is owed to someone else.

How badly people want a good or service.

4.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Someone who takes the risk to start and organize a business.

entrepreneur

debt

consumers

shortage

5.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

An item or service that is to be sold to consumers is called a _________.

profit

product

economics

income

6.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

An individual who purchases or buys goods or services are called ____________.

entrepreneurs

students

monopoly

consumers

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Human-made materials used to produce goods and services.

capital

land

labor

entrepreneur

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