Economics Review
Authored by Amanda Carpenter
Social Studies
3rd Grade
Used 7+ times
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23 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What you give up when making a decision.
long term goal
opportunity cost
producer
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Someone who buys or uses goods and services.
producer
services
consumer
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
People who produce goods and services.
producer
consumer
market
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Resources that come from nature: water, soil, trees, coal, etc.
natural resources
scarcity
market
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Opportunity cost is...
the exchange of goods and services in a market
the value of the next best choice when you choose something else
the price you pay for goods and services
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Work that is done by others.
services
consumer
economics
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The act of trading goods and services you have for goods and services you want
boat
trade
goods
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