
Economics Vocab Review
Quiz by Krista Harvey
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17 questions
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- Q1You can live without thisneedwantcostwant20s
- Q2Amount of money left over after paying all costs/expensessalesprofitcostloss20s
- Q3You can't live withoutfoodiphoneneedwant20s
- Q4A person willing to take risks to start a businessteacherentrepreneurpatriotmadman20s
- Q5Goods made to produce other goods (like tools)capital resourcesnatural resourcesresourceshuman resources20s
- Q6Provided by the earth to make goodshuman resourcesresourcescapital resourcesnatural resources20s
- Q7Study of how supply and demand allocates resourcesproducerentrepreneursaleseconomics20s
- Q8When you have to choose between two optionsconsumerproducersalesopportunity cost20s
- Q9Money lost by a business (opposite of profit)lossfailureexpensecost20s
- Q10product or merchandisegoodproducerconsumerservice20s
- Q11Action someone does for someone elseservicehelpgoodhuman resource20s
- Q12Someone who buys goods or servicescostsalesconsumerproducer20s
- Q13The people who do the work of a companycapital resourcesnatural resourceshuman resourcesresource20s
- Q14Someone who makes goods or provides servicesconsumerproducersalesentrepreneur20s
- Q15Short supply, not enough to meet demandscarcity20s