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WorksheetsSOL 11A VOCAB for ECON
Total questions: 17
Worksheet time: 9mins
Name
Class
Date
1.
What is given up when a choice is made
a)
Price
b)
Choice
c)
Consumption
d)
Opportunity cost
2.
The amount of money exchanged for a good or service.
a)
Opportunity Cost
b)
Price
c)
Production
d)
Choice
3.
Things that incite or motivate. This changes economics behavior.
a)
Incentive
b)
Production
c)
Supply and demand
d)
choice
4.
The amount of a good or service that consumers are willing and able to buy at a certain price.
a)
Good
b)
Supply
c)
Demand
d)
Service
5.
The amount of a good or service that producers are willing and able to sell at a certain price.
a)
Supply
b)
Demand
c)
Price
d)
Service
6.
The inability to satisfy all wants at the same time. All resources and goods are limited. This requires a choice to be made.
a)
Scarcity
b)
Opportunity Cost
c)
Resources
d)
Choice
7.
Factors of production that are used in the production of goods and services.
a)
Scarcity
b)
Resources
c)
Opportunity Cost
d)
Choice
8.
Selection of an item or action from a set of possible alternatives.
a)
Price
b)
Scarcity
c)
Opportunity Cost
d)
Choice
9.
The combining of human, natural, capital, and entrepreneurship resources to make goods and services.
a)
Price
b)
Incentives
c)
Scarcity
d)
Production
10.
The using of goods and services.
a)
Consumption
b)
Resources
c)
Choice
d)
Opportunity Cost
11.
This image is describing what economic term...
a)
not enough for all
b)
scarcity
c)
choice
12.
What economic term is being describe in the image...
a)
cost
b)
monies
c)
price
13.
What economic term is being describe in the image
a)
price
b)
advertising
c)
incentive
14.
What economic term is being describe in the image...
a)
opportunity cost
b)
decision
c)
choice
15.
What economic term is being describe in the image...
a)
stuff and things
b)
resources
c)
production
d)
consumption
16.
What economic term is being describe in the image...
a)
natural
b)
resources
c)
human
17.
What economic term is being describe in the image...
a)
opportunity cost
b)
choice
c)
consumption
d)
turkey, ham, meatball sandwiches....
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