WorksheetsEconomic Decision Making
Total questions: 18
Worksheet time: 13mins
Every economic decision involves something lost. This is known as...?
costs
benefits
inflation
stability
What is this from
Naruto
I don't even know :0
One Punch
Dragon Ball Z
Economic decisions in which something is gained is referred to as?
cost
benefit
goods
services
Which of the following are examples of needs?
Food
water
shelter
Bad Bunny Tickets
A system used to manage limited resources for the production, distribution, and consumption of goods and services is known as __________.
Goods
Services
Economy
Resources
Which of the following are examples of Goods?
clothing
life
liberty
cars
Who is this singer?
Beyonce
Ariana Grande
Camila Cabello
Annie Marie
Work done by someone else for which people and businesses are willing to pay (teaching gardening, childcare, etc.) is known as _________.
economy
scarcity
capital
services
The following term describes a situation in which supply can not meet the demand.
resources
capital
scarcity
goods
A temporary condition that occurs when there is less of a good or service available than people want at the current price.
scarcity
shortage
tradeoff
this is the wrong answer
Which of the following are the best examples of factors of production?
land
labor
capital
entrepreneurship
The loss of an opportunity from one choice when another choice is made.
tradeoff
incentive
shortage
opportunity cost
Which one of the following instruments is not used in country music?
Fiddle
Drums
Trombone
Guitars
Which of the following is an example of entrepreneurship?
eating at McDonalds
opening your own lawn care business
buying stocks
starting your own hair salon
The exchange of one benefit for another that is thought to be better is known as ______.
tradeoff
incentive
economy
cost
Give an example of a tradeoff.
Scarcity is temporary.
true
false
Shortages are temporary.
true
false
