Understanding Economic Concepts and Costs

Understanding Economic Concepts and Costs

Assessment

Flashcard

Social Studies

4th Grade

Hard

Created by

Wayground Content

FREE Resource

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12 questions

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1.

FLASHCARD QUESTION

Front

money that is earned from work or investments

Back

income

2.

FLASHCARD QUESTION

Front

the use of resources to buy, sell, produce, or consume goods and services

Back

economic activity

3.

FLASHCARD QUESTION

Front

something that is lost or given up in the process of getting something else

Back

cost

4.

FLASHCARD QUESTION

Front

the value of what you have to give up in order to choose something else

Back

opportunity cost

5.

FLASHCARD QUESTION

Front

a plan for using money, based on expected income and expense

Back

budget

6.

FLASHCARD QUESTION

Front

something advantageous or positive, especially as a result of a decision

Back

benefit

7.

FLASHCARD QUESTION

Front

a resource used to produce a good or service

Back

productive resource

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