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Economics review

Total questions: 19

Worksheet time: 10mins

Name
Class
Date
1.

What is the study of the way goods and services are made and used?

a)

market

b)

geography

c)

economics

2.

Where buyers and sellers exchange goods and services.

a)

government

b)

economics

c)

market

3.

People who produce goods and services.

a)

producer

b)

consumer

c)

market

4.

What you give up when making a decision.

a)

long term goal

b)

opportunity cost

c)

producer

5.

Lack of available resources.

a)

services

b)

scarcity

c)

goods

6.

Resources that come from nature: water, soil, trees, coal, etc.

a)

natural resources

b)

scarcity

c)

market

7.

Someone who buys or uses goods and services.

a)

producer

b)

services

c)

consumer

8.

Products that can be bought and sold.

a)

producer

b)

goods

c)

services

9.

Work that is done by others.

a)

services

b)

consumer

c)

economics

10.

A plan to help people make personal economic decisions for the present and future and to become more financially responsible.

a)

budget

b)

cost

c)

market

11.

List 3 goods that could be produced using trees.

a)
b)
c)
d)
12.

Pick the producer.

a)
b)
13.

Pick the producer.

a)
b)
14.

Pick the consumer.

a)
b)
15.

Pick a consumer.

a)
b)
16.
a)

long term savings goal

b)

short term savings goal

17.
a)

long term savings goal

b)

short term savings goal

18.
a)

long term savings goal

b)

short term savings goal

19.
a)

long term savings goal

b)

short term savings goal