Match the following terms with their definitions.
SOL 11a Economics Vocab Quiz

Quiz
•
Social Studies
•
8th Grade
•
Medium
Ernest Harden
Used 10+ times
FREE Resource
19 questions
Show all answers
1.
MATCH QUESTION
30 sec • 1 pt
Individuals who start and run businesses.
Human Resources
Individuals or organizations that create goods or services.
Producers
The personnel of a business or organization, especially when regarded as a significant asset.
Consumers
Individuals who purchase goods and services for personal use.
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 difference between the amount earned and the amount spent in buying, operating, or producing something.
Opportunity Cost
The loss of potential gain from other alternatives when one alternative is chosen.
Profit Motive
The limited nature of society's resources.
Scarcity
The drive to pursue financial gain as a reason for economic activity.
Profit
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