WorksheetsEconomics Vocabulary
Total questions: 17
Worksheet time: 51mins
Name
Class
Date
1.
The process of choosing one good or service over another.
a)
Free enterprise
b)
Opportunity cost
c)
Service
d)
Loss
2.
The money that the government collects from individuals and businesses to pay for public goods and services.
a)
Taxes
b)
Services
c)
Profit
d)
Supply
3.
There is a limited amount of something.
a)
Loss
b)
Supply
c)
Scarcity
d)
Specialization
4.
A person who comes up with a product or service, or a better way to produce one.
a)
Service
b)
Taxes
c)
Barter
d)
Entrepreneur
5.
When the amount of money a person or company spends is more than they receive or take in
a)
Loss
b)
Profit
c)
Free enterprise
d)
Barter
6.
Anyone who buys a good or service
a)
Entrepreneur
b)
Producer
c)
Consumer
d)
Service
7.
When people depend on one another
a)
Service
b)
Good
c)
Consumer
d)
Interdependence
8.
The positive gain from an investment or business after subtracting expenses.
a)
Good
b)
Profit
c)
Demand
d)
Consumber
9.
The amount of something available for use
a)
Supply
b)
Demand
c)
Service
d)
Scarcity
10.
Something you can feel or any kind of merchandise
a)
Good
b)
Service
c)
Loss
d)
Profit
11.
Anyone who makes or grows a good or performs a service
a)
Consumer
b)
Entrepreneur
c)
Interdependence
d)
Producer
12.
When an individual or a company does one part of a task and relies on others to complete the other parts of the task.
a)
Specialization
b)
Free enterprise
c)
Producer
d)
Consumer
13.
Any kind of work performed for others.
a)
Good
b)
Loss
c)
Profit
d)
Service
14.
How much of a product or service is desired by buyers.
a)
Supply
b)
Profit
c)
Demand
d)
Barter
15.
The study of the making, buying, and selling of goods and services.
a)
Entrepreneur
b)
Producer
c)
Good
d)
Economics
16.
To trade
a)
profit
b)
producer
c)
barter
d)
demand
17.
When companies compete with one another to get the most customers
a)
Loss
b)
Free enterprise
c)
Profit
d)
Interdependence
100 %
