Market Economy Vocab

Market Economy Vocab

Assessment

Flashcard

Social Studies

12th Grade

Hard

Created by

Wayground Content

FREE Resource

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22 questions

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1.

FLASHCARD QUESTION

Front

Producers competing for profit

Back

Competition

2.

FLASHCARD QUESTION

Front

Limited resources available

Back

Scarcity

3.

FLASHCARD QUESTION

Front

Number of consumers wanting something.

Back

Demand

4.

FLASHCARD QUESTION

Front

Buying and selling activity in the world.

Back

Market

5.

FLASHCARD QUESTION

Front

Benefit given up by choosing one option over another.

Back

Opportunity Cost

6.

FLASHCARD QUESTION

Front

Amount of something available.

Back

Supply

7.

FLASHCARD QUESTION

Front

Economic theory where trade and industry are privately owned for profit, not state-controlled.

Back

Capitalism

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