Economics

The good or service that you give up when you make an economic choice is called _____________________.

• opportunity cost

• economic choice

• economic interdependence

• economic specialization

The term used when there is not enough of something to go around is __________________.

• scarcity

• economic choices

• resources

• opportunity cost

What type of resources are these?

• capital

• natural

• nautical

• human

Anyone who buys a good or a service is a _____.

• producer

• consumer

Anyone who makes or grows a good or a service is ____.

• producer

• consumer

I am buying apples at a store. Am I a producer or a consumer?

• Producer

• Consumer

Which country does the US get the most IMPORTS from?

• England

• China

• Panama

• Egypt

A product that goes out from or EXITS the US is a

• Demand

• export

• consumer

• Import

A product that comes IN to the US is a

• Demand

• export

• producer

• Import

The United States buys coffee beans from Brazil. This is an

______________.

• export

• import