Econ Vocab Study Set

Econ Vocab Study Set

7th Grade

25 Qs

quiz-placeholder

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Econ Vocab Study Set

Econ Vocab Study Set

Assessment

Quiz

Social Studies

7th Grade

Practice Problem

Medium

Created by

Allison Crawford

Used 22+ times

FREE Resource

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25 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The money, people, & materials that are available for a community

Scarcity

Resources

Demand

Supply

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The study of ways to use resources to fulfill wants & needs

Scarcity

Economics

Opportunity Cost

Supply

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Something that we can touch or hold is a

Good

Service

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The amount of goods and services that PRODUCERS are willing and able to sell at a range of prices

Goods

Demand

Services

Supply

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Work that is done for us

Goods

Services

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Things that are necessary for our survival

Demand

Needs

Supply

Wants

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The cost of the next-best use of time and money when choosing to do one thing or another.

Budget

Competition

Opportunity Cost

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