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Economics

Total questions: 15

Worksheet time: 8mins

Name
Class
Date
1.

_____________ are things that people make or use to satisfy their needs and wants.

a)

Goods

b)

Services

c)

Producers

d)

Consumers

2.

________________ are activities that satisfy people’s needs and wants.

a)

Goods

b)

Services

c)

Needs

d)

Wants

3.

______________ are people who use natural resources, human resources, and capital resources to make goods or provide services.

a)

Producers

b)

Services

c)

Goods

d)

Resources

4.

________________ are people who use services or buy goods.

a)

Producers

b)

Resources

c)

Pretty

d)

Consumers

5.

_______________ resources are materials that come from nature.

a)

Special

b)

Natural

c)

Human

d)

Capital

6.

______________ resources are people working to produce goods or provide services.

a)

Capital

b)

Human

c)

Natural

d)

Manufactured

7.

________________ resources are the things that people use to make the goods or provide their services.

a)

Natural

b)

Capital

c)

Company

d)

Human

8.

The good or service that you give up when you make an economic choice is called _____________________.

a)

opportunity cost

b)

economic choice

c)

economic interdependence

d)

economic specialization

9.

Two or more people depending on each other for goods and services is called __________________________.

a)

economic specialization

b)

scarcity

c)

economic choices

d)

economic interdependence

10.

Being an expert in one job, product, or service is called ___________________.

a)

economic interdependence

b)

economic specialization

c)

opportunity cost

d)

scarcity

11.

The choice between two goods or services is known as ___________________.

a)

scarcity

b)

opportunity cost

c)

economic choice

d)

economic specialization

12.

The term used when there is not enough of something to go around is __________________.

a)

scarcity

b)

economic choices

c)

resources

d)

opportunity cost

13.

What type of resources are these?

a)

capital

b)

natural

c)

nautical

d)

human

14.

These are examples of ________________ resources.

a)

capital

b)

natural

c)

scarce

d)

human

15.

This picture shows examples of _________________ resources.

a)

natural

b)

capital

c)

human

d)

consumer