wayground logo

Free Printable Worksheets

NEW

Font size

S
M
L
XL
Worksheets

Economy Vocabulary

Total questions: 18

Worksheet time: 9mins

Name
Class
Date
1.

___________________—things that people make

a)

Need

b)

Want

c)

Goods

d)

Services

2.

_______________________—things that people do

a)

Need

b)

Want

c)

Goods

d)

Services

3.

____________________—something you need to survive

a)

Need

b)

Want

c)

Goods

d)

Services

4.

____________________—something you would like to have

a)

Need

b)

Want

c)

Goods

d)

Services

5.

______________________—people who use goods and services

a)

Consumer

b)

Producer

c)

Supply

d)

Demand

6.

________________—people and businesses that make or provide goods and services

a)

Consumer

b)

Producer

c)

Supply

d)

Demand

7.

__________________—how much of something people want to buy

a)

Consumer

b)

Producer

c)

Supply

d)

Demand

8.

_____________—how much of something is available to buy

a)

Consumer

b)

Producer

c)

Supply

d)

Demand

9.

_______________—not enough for everyone

a)

Shortage

b)

Surplus

c)

Scarcity

d)

Competition

10.

________________—extra supply of something

a)

Shortage

b)

Surplus

c)

Scarcity

d)

Competion

11.

______________—when there is not enough (none) of an item for everyone who wants or needs it

a)

Shortage

b)

Surplus

c)

Scarcity

d)

Competition

12.

__________________—businesses that sell the same products and try to sell them to the same customers

a)

Competition

b)

Interdependence

c)

Specialization

d)

Opportunity Cost

13.

__________________—when businesses or people depend on each other for goods and services

a)

Competition

b)

Interdependence

c)

Specialization

d)

Opportunity Cost

14.

_____________—being an expert in one job, product, or service

a)

Specialization

b)

Cometition

c)

Interdependence

d)

Opportunity Cost

15.

______________—how much something costs

a)

Price

b)

Opportunity Cost

c)

Imports

d)

Exports

16.

____________________—what you give up when you choose one thing instead of another

a)

Price

b)

Opportunity Cost

c)

Supply

d)

Demand

17.

_______________—goods sold outside of Louisiana to other countries

a)

Supply

b)

Producer

c)

Imports

d)

Exports

18.

_______________—goods brought from other countries that are shipped to Louisiana

a)

Supply

b)

Producer

c)

Imports

d)

Exports