Personal Finance - Vocabulary - Part 2

Personal Finance - Vocabulary - Part 2

5th Grade

18 Qs

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Personal Finance - Vocabulary - Part 2

Personal Finance - Vocabulary - Part 2

Assessment

Quiz

Social Studies

5th Grade

Practice Problem

Easy

Created by

Dawn Ansley

Used 8+ times

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18 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Choose the correct vocabulary word for this definition.

An economic system where goods and services are exchanged for

money based on voluntary exchange between consumers and producers; people,

not the government, own businesses.

Consumers

Producers

Market Economy

Competition

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Choose the correct vocabulary word for this definition.

Where buyers and sellers freely exchange goods and services.

Consumers

Producers

Supply

Market

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Choose the correct vocabulary word for this definition.

People who use (consume) goods or services provided by a business

Consumers

Producers

Supply

Demand

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Choose the correct vocabulary word for this definition.

Businesses that make or produce goods or services

Consumers

Producers

Supply

Demand

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Choose the correct vocabulary word for this definition.

When two or more businesses attempt to sell the same, or similar, goods

and services in the same market

Producers

Competition

Supply

Demand

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Choose the correct vocabulary word for this definition.

What producers make to sell; the amount of goods and services that are

available for purchase in a market

Market

Competition

Supply

Demand

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Choose the correct vocabulary word for this definition.

What consumers want to buy; the amount of goods and services that will be

purchased in a market

Market

Producers

Supply

Demand

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