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Worksheets

Economics Vocabulary

Total questions: 15

Worksheet time: 8mins

Name
Class
Date
1.

When you give someone an item and they give you something

you want in exchange

a)

Producer

b)

Consumer

c)

Trade

d)

Services

2.

Something found in nature you can use to make something with

a)

Producer

b)

Natural Resources

c)

Trade

d)

Services

3.

When you pay someone to do something for you.

a)

Producer

b)

Natural Resources

c)

Trade

d)

Services

4.

4.The person buying or paying for something.

a)

Producer

b)

Consumer

c)

Trade

d)

Services

5.

4.The person making something or providing a service that

someone pays for.

a)

Producer

b)

Consumer

c)

Trade

d)

Services

6.

6.The item you get when you pay for it.

a)

Producer

b)

Consumer

c)

Good

d)

Services

7.

Goods that are used to produce/make other goods.

a)

Entrepreneur

b)

Capital Goods

c)

Industry

d)

Specialization

8.

Group of companies that are making related things.

a)

Entrepreneur

b)

Capital Goods

c)

Industry

d)

Specialization

9.

Becoming an expert at one skill or subject.

a)

Entrepreneur

b)

Capital Goods

c)

Industry

d)

Specialization

10.

Someone who has the idea and who works to create a product or service

a)

Entrepreneur

b)

Capital Goods

c)

Industry

d)

Specialization

11.

Money spent on buying things like tools to create your good or service.

a)

Natural Resources

b)

Capital Resources

c)

Human Resources

d)

Profits

12.

Workers who help make your good or run your service.

a)

Natural Resources

b)

Capital Resources

c)

Human Resources

d)

Profits

13.

To Trade

a)

Goods

b)

Barter

c)

Service

d)

Profits

14.

Money spent to make a good or provide a service

a)

Expenses

b)

Barter

c)

Service

d)

Profits

15.

Money a business has left after all expenses are paid.

a)

Expenses

b)

Barter

c)

Service

d)

Profits