Economics Vocab
Quiz by Ashley Wedlund
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27 questions
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- Q1Ex: Food, clothing, shelterNeedTrade-OffWants30s
- Q2Ex: Toys, Games, EntertainmentTrade-OffIncentivesWants30s
- Q3Ex: The paycheck you receive at the end of the month for doing your jobIncentivesCapitalLand30s
- Q4Ex: Idle cash balancesOpportunity CostScarcityLabor30s
- Q5Ex: Making a sacrifice to get a certain product or experienceTrade-OffLandFinancial Capital30s
- Q6Ex: A company runs out of their product and cannot meet a society's demandServicesScarcityGood30s
- Q7Ex: Mineral Deposits, forests, fish stocks, geostationary orbits, portions of the electromagnetic spectrumInputGoodLand30s
- Q8Ex: Financial wealth that is used to start and maintain a businessProductivityLaborCapital30s
- Q9Ex: Retail, corporate, investment bankingEconomyFinancial CapitalEntrepreneur30s
- Q10Ex: People do a certain amount of work for their businesses every weekLaborGoodUtility30s
- Q11Ex: A person who takes a risk by running a certain businessWealthEntrepreneurUtility30s
- Q12EntrepreneurProfit MotiveGoodStandard of Living30s
- Q13cMarketServicesCompetition30s
- Q14Ex: Resources that a company will need in order to make a profitFree EnterpriseEconomyInput30s
- Q15Ex: Monitor, printer, plotter, projector, speakerMarketOutputEconomic Growth30s