Kahoot Questions – Economics Glossary

What is the best definition of economics?

• The study of money and banking

• The study of choices people make about limited resources

• The way people buy luxury goods

• How governments collect taxes

What is a tangible good?

• A law passed by government

• A service that helps people

• A product you can physically touch

• An idea or thought

Which of these is an example of an intangible good?

• A sandwich

• A T-shirt

• A haircut

• A chair

Which of the following is a natural resource?

• A. A hammer

• B. A doctor

• C. A factory

• D. A forest

What are human resources?

• Tools used to build products

• People and their skills and knowledge

• Buildings used for business

• Natural elements from the Earth

Which of the following is a capital resource?

• A. A tree

• B. A teacher

What is a consumer?

• Someone who creates goods

• Someone who buys goods or services

• A government worker

• A business owner

What is a producer?

• Someone who imports products

• Someone who sells only services

• Someone who creates goods or services

• A customer

What is a market?

• A place where goods are stored

• A system where buyers and sellers interact

• A type of store

• A bank

What does "supply" refer to in economics?

• The money people earn

• The amount of a good available

• How many people want something

• How fast a product is delivered