Economics Vocabulary Quiz

Economics Vocabulary Quiz

12th Grade

6 Qs

quiz-placeholder

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Economics Vocabulary Quiz

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Assessment

Quiz

Life Skills

12th Grade

Medium

Created by

Cathleen Bartels

Used 4+ times

FREE Resource

6 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

What is the study of how people use resources to satisfy their needs and wants?

Scarcity

Economics

Capital

Income

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

What term describes the limited nature of society's resources?

Resources

Capital

Scarcity

Income

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

What defines something used to produce goods and services?

Resources

Opportunity Cost

Income

Delayed Gratification

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

What is the term for financial assets or the financial value of assets, such as cash?

Human Capital

Capital

Income

Scarcity

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

What is the cost of the next best alternative when a decision is made?

Cost/Benefit Analysis

Opportunity Cost

Unintended Consequences

Delayed Gratification

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

What is the process of comparing the costs and benefits of a decision?

Cost/Benefit Analysis

Scarcity

Human Capital

Income