Commerce Plaza Economic Vocabulary Quiz

What is the study of making, buying, and selling goods or services?

• History

• Economics

• Geography

• Biology

Tags

CCSS.L.4.6

CCSS.RI.4.4

CCSS.RI.5.4

CCSS.W.4.2D

CCSS.W.5.2D

Which of the following is a need for survival?

• Toys

• Movie tickets

• Food

• Video games

Tags

CCSS.L.1.6

CCSS.L.3.6

CCSS.L.4.6

CCSS.RL.1.4

What is a want?

• Something not necessary for survival

• Food

• Clothing

• Shelter

Tags

CCSS.L.11-12.4C

CCSS.L.6.4C

CCSS.L.7.4C

CCSS.L.8.4C

CCSS.L.9-10.4C

What are resources?

• Things you can't afford

• Things you need to survive

• What is available to you as a consumer

• Things you want to buy

Tags

CCSS.L.2.4E

CCSS.L.3.4D

CCSS.L.6.4C

CCSS.L.7.4C

CCSS.L.8.4C

When are resources limited and not many are left?

• Abundance

• Excess

• Plenty

• Scarcity

Tags

CCSS.L.1.5A

CCSS.L.1.5B

CCSS.L.K.5A

What are goods?

• Things we use in our daily life

• Things we don't need

• Things we don't like

• Things we can't afford

Tags

CCSS.RI.3.10

CCSS.RI.4.10

CCSS.RI.5.10

CCSS.RI.6.4

CCSS.RI.7.4

What are services?

• Things we buy

• Things we use in our daily life

• Things we don't need

• When someone else does the work for us

What is distribution?

• The storage of goods

• The purchase of goods

• The production of goods

• The delivery of goods to the consumer

What is consumption of goods?

• When goods are distributed

• When goods are stored

• When a producer makes goods

• When a consumer buys and uses a product

Tags

CCSS.L.2.4E

CCSS.L.3.4D

CCSS.L.6.4C

CCSS.L.7.4C

CCSS.L.8.4C

What is supply in economics?

• When goods are not available

• When goods are scarce

• When manufacturing produces goods for consumers

• When consumers want goods

Tags

CCSS.RI.3.10

CCSS.RI.4.10

CCSS.RI.5.10

CCSS.RI.6.4

CCSS.RI.7.4