WorksheetsEconomics Vocabulary
Total questions: 14
Worksheet time: 14mins
What is a choice you make based on the trade offs and opportunity costs?
decision
trade off
opportunity cost
risk
What things are found in nature and used to make goods and services?
positive incetives
natural resources
risk
trade off
What is an offer of a reward for a choice?
opportunity cost
services
goods
positive incentives
What is the study of how people make and spend money by buying and selling goods and services?
decision
goods
economics
negative incentives
What are the people who work to earn money while producing goods and services called?
capital resources
productive resources
human resources
incentives
What are the actual products that people buy and sell called?
goods
services
economics
natural resources
What is an offer of a consequence of a choice?
decision
risk
negative incentive
opportunity cost
What is a chance someone makes while making a decision?
risk
reward
positive incentive
negative incentive
What is it called when you choose one thing over another thing?
trade off
opportunity cost
economics
risk
What is the cost or value of what you give up when you choose one thing over another?
trade off
services
goods
opportunity cost
What are the products that are used to make other products called?
human resources
capital resources
positive incentives
goods
What is an action or work that someone provices to help someone called?
economics
goods
trade off
services
What are the resources that are needed to provide goods and services called?
productive resources
human resources
natural resources
capital reources
What is something offered to help you make economic decision?
risk
services
goods
incentive
