Economics Vocab

Economics Vocab

9th Grade

11 Qs

quiz-placeholder

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Economics Vocab

Economics Vocab

Assessment

Quiz

Business

9th Grade

Practice Problem

Easy

Created by

Jessica Collins

Used 8+ times

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11 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

 The science that deals with the production, distribution, and consumption of goods and services

Supply & Demand theory

Economics

Voluntary Exchange

Market value

2.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

Goods or services available to individuals and businesses used to make consumer products.

Supply

Demand

Product/Servicee

Economic Resources

3.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

the value of the next best alternative when one option is chosen over another.

Opportunity Cost

Voluntary Exchange

Market

Price Signal

4.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

Any place where buyers and sellers meet to exchange goods and services

Voluntary Exchange

Opportunity Cost

Market

Free market economy

5.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

The act of producers and consumers freely and willingly engaging in market transactions.

Supply & Demand

Opportunity cost

Voluntary exchange

Equilibrium

6.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

How much of the goods or services consumers are willing and able to buy

Demand

Supply

Quantity

Price

7.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

The amount of a good or service that producers are willing to provide.

Supply

Demand

Scarcity

Excess

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