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Economics Vocab Review

Quiz by Krista Harvey

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17 questions
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  • Q1
    You can live without this
    need
    want
    cost
    want
    20s
  • Q2
    Amount of money left over after paying all costs/expenses
    sales
    profit
    cost
    loss
    20s
  • Q3
    You can't live without
    food
    iphone
    need
    want
    20s
  • Q4
    A person willing to take risks to start a business
    teacher
    entrepreneur
    patriot
    madman
    20s
  • Q5
    Goods made to produce other goods (like tools)
    capital resources
    natural resources
    resources
    human resources
    20s
  • Q6
    Provided by the earth to make goods
    human resources
    resources
    capital resources
    natural resources
    20s
  • Q7
    Study of how supply and demand allocates resources
    producer
    entrepreneur
    sales
    economics
    20s
  • Q8
    When you have to choose between two options
    consumer
    producer
    sales
    opportunity cost
    20s
  • Q9
    Money lost by a business (opposite of profit)
    loss
    failure
    expense
    cost
    20s
  • Q10
    product or merchandise
    good
    producer
    consumer
    service
    20s
  • Q11
    Action someone does for someone else
    service
    help
    good
    human resource
    20s
  • Q12
    Someone who buys goods or services
    cost
    sales
    consumer
    producer
    20s
  • Q13
    The people who do the work of a company
    capital resources
    natural resources
    human resources
    resource
    20s
  • Q14
    Someone who makes goods or provides services
    consumer
    producer
    sales
    entrepreneur
    20s
  • Q15
    Short supply, not enough to meet demand
    scarcity
    20s

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