Font size
WorksheetsCommerce Plaza Economic Vocabulary Quiz
Total questions: 33
Worksheet time: 3hrs 45mins
What is the study of making, buying, and selling goods or services?
History
Economics
Geography
Biology
Which of the following is a need for survival?
Toys
Movie tickets
Food
Video games
What is a want?
Something not necessary for survival
Food
Clothing
Shelter
What are resources?
Things you can't afford
Things you need to survive
What is available to you as a consumer
Things you want to buy
When are resources limited and not many are left?
Abundance
Excess
Plenty
Scarcity
What are goods?
Things we use in our daily life
Things we don't need
Things we don't like
Things we can't afford
What are services?
Things we buy
Things we use in our daily life
Things we don't need
When someone else does the work for us
What is distribution?
The storage of goods
The purchase of goods
The production of goods
The delivery of goods to the consumer
What is consumption of goods?
When goods are distributed
When goods are stored
When a producer makes goods
When a consumer buys and uses a product
What is supply in economics?
When goods are not available
When goods are scarce
When manufacturing produces goods for consumers
When consumers want goods
What is demand in economics?
When consumers want goods
When goods are not needed
When goods are abundant
When goods are not available
What is opportunity cost?
The process of choosing one good/service over another
The cost of goods
The cost of production
The cost of services
What is profit?
The money received through sources such as employment
The money spent on goods and services
The money made from selling goods and services after expenses
The money lost by not selling enough goods or services
What is a loan?
A bank card that is directly linked to your checking account
A plan for making and spending money
A sum of money that is borrowed from the bank and can be paid back over a period of time
The money paid to employees for their services
What is a producer?
A bank or credit union account that allows withdrawals by writing a check
A plan for making and spending money
A person or company that makes, grows, or supplies goods for sale
A person who purchases goods and services for personal use
When people act well or make something that is good
Quality
Quantity
When many things are made or consumed.
Quality
Quantity
A paper document connected to your bank account with numbers and codes.
Debit Card
Check
Cash
Register
A bank card that is directly linked to your checking account and is connected to your bank via numbers and codes.
Debit Card
Check
Cash
Register
The money paid to employees for their services.
Operating Costs
Expenses
Salary
Inventory
Businesses must pay these in order to keep their company running. For example, office supplies, recycling fee, advertising, electricity, rent, medical insurance, etc.
Operating Costs
Salary
Advertise
Inventory
What is it called when you sign the back of your check to show you are finalizing your payment into the account?
Writing a check
Advertise
Endorse
Signature
How a company encourages people to buy their goods or services...
Consumer
Income
Advertisement
Inventory
A memorable motto or phrase that a company creates so the customer can remember them is called a (a) .
Which business at Commerce Plaza did you go to deposit your checks?
Professional Office
Jovia Financial Credit Union
Capital One Bank
IKEA Snack Shoppe
Which business at Commerce Plaza could you go to apply for a loan?
Chamber of Commerce
Capital One Bank
Jovia Financial Credit Union
Hofstra
This business gives back to the community and collects donations to
help people in need.
Green Enterprises
Medical Center
Newspaper
United Way
This business records and prints out pictures and information about the businesses and
people in the community.
Professional Office
IKEA Snack Shoppe
Newspaper
Chamber of Commerce
A nurse provided a check-up service at this Commerce Plaza business.
IKEA Snack Shoppe
Capital One Bank
Medical Center
Hofstra
A mini restaurant at Commerce Plaza where you could buy snacks.
Hofstra
Truetox Lab
IKEA Snack Shoppe
Newspaper
This Commerce Plaza Business is also a University on Long Island.
Hofstra
Fairfield
Commerce Plaza
Capital One Bank
The President is a part of this Commerce Plaza business.
Professional Office
Sandwire
Chamber of Commerce
Green Enterprises
A business where they do experiments and help the environment by
teaching our community about recycling and conservation.
Truetox Lab
Sandwire
Green Enterprises
IKEA Snack Shoppe
