SOL 11a Economics Vocab Quiz

SOL 11a Economics Vocab Quiz

8th Grade

19 Qs

quiz-placeholder

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SOL 11a Economics Vocab Quiz

SOL 11a Economics Vocab Quiz

Assessment

Quiz

Social Studies

8th Grade

Medium

Created by

Ernest Harden

Used 10+ times

FREE Resource

19 questions

Show all answers

1.

MATCH QUESTION

30 sec • 1 pt

Match the following terms with their definitions.

The personnel of a business or organization, especially when regarded as a significant asset.

Consumers

Individuals who purchase goods and services for personal use.

Producers

Individuals or organizations that create goods or services.

Human Resources

Individuals who start and run businesses.

Entrepreneurs

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Who are the people or companies that make, grow, or supply goods for sale?

Consumers

Natural Resources

Producers

Capital Resources

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What are materials that exist naturally and can be used for economic gain?

Human Resources

Capital Resources

Natural Resources

Profit Motive

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What term describes people who make up the workforce to produce goods and services?

Human Resources

Capital Resources

Entrepreneurs

Consumers

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What are land, buildings, and equipment used to produce goods and services called?

Natural Resources

Capital Resources

Human Resources

Profit

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Who are the people that take the risk of production to earn a profit?

Consumers

Entrepreneurs

Producers

Human Resources

7.

MATCH QUESTION

30 sec • 1 pt

Match the following economic terms with their definitions.

The loss of potential gain from other alternatives when one alternative is chosen.

Profit

The limited nature of society's resources.

Scarcity

The drive to pursue financial gain as a reason for economic activity.

Profit Motive

The difference between the amount earned and the amount spent in buying, operating, or producing something.

Opportunity Cost

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