Econ Vocab

Econ Vocab

Assessment

Flashcard

Social Studies

6th Grade

Easy

Created by

Wayground Content

Used 1+ times

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18 questions

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1.

FLASHCARD QUESTION

Front

Opportunity cost:

Back

Value of the next best option not chosen.

2.

FLASHCARD QUESTION

Front

Resources like tools, machinery, and money in production -

Back

Capital

3.

FLASHCARD QUESTION

Front

Jason chose to ride 4-wheelers with his son instead of working overtime. What is his opportunity cost?

Back

work overtime for his boss

4.

FLASHCARD QUESTION

Front

Going to a doctor for a physical is

Back

A service

5.

FLASHCARD QUESTION

Front

Economics

Back

Study of how people use limited resources.

6.

FLASHCARD QUESTION

Front

Characteristic of scarce resources?

Back

Desireable.

7.

FLASHCARD QUESTION

Front

NOT one of the three questions of economics: What to produce? How to produce? For whom to produce?

Back

When to produce?

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