System managing limited resources for production, distribution, and consumption of goods and services

Econ Basics Vocab Review

Flashcard
•
Social Studies
•
10th - 12th Grade
•
Hard
Quizizz Content
FREE Resource
Student preview

10 questions
Show all answers
1.
FLASHCARD QUESTION
Front
Back
economy
2.
FLASHCARD QUESTION
Front
Work done by someone else for which a consumer, business, or government is willing to pay
Back
Services
3.
FLASHCARD QUESTION
Front
Tools, machines, and buildings for producing goods/services are called capital.
Back
true
4.
FLASHCARD QUESTION
Front
Next best alternative value forgone due to a decision:
Back
opportunity cost
5.
FLASHCARD QUESTION
Front
Comparing costs and benefits of an action; if benefits exceed costs, the action is worth taking. What is this called?
Back
false
6.
FLASHCARD QUESTION
Front
Any factor that motivates a person is known as cost-benefit analysis.
Back
false
7.
FLASHCARD QUESTION
Front
Condition from limited resources & unlimited wants:
Back
scarcity
Create a free account and access millions of resources
Similar Resources on Quizizz
10 questions
Supply and Demand

Flashcard
•
11th - 12th Grade
10 questions
Fashion Ch 3 Vocab (GW)

Flashcard
•
10th - 12th Grade
10 questions
AP Microeconomics Unit 1 Review

Flashcard
•
12th Grade - University
13 questions
Market failure - Externalities

Flashcard
•
11th - 12th Grade
10 questions
Free Enterprise System

Flashcard
•
9th - 12th Grade
9 questions
Goods and Services

Flashcard
•
9th - 12th Grade
10 questions
Scarcity and Opportunity Cost Flashcardziz

Flashcard
•
10th - 12th Grade
7 questions
Ch. 2: Classification of Business

Flashcard
•
10th - 12th Grade
Popular Resources on Quizizz
20 questions
math review

Quiz
•
4th Grade
20 questions
Math Review - Grade 6

Quiz
•
6th Grade
20 questions
Reading Comprehension

Quiz
•
5th Grade
20 questions
Types of Credit

Quiz
•
9th - 12th Grade
20 questions
Taxes

Quiz
•
9th - 12th Grade
10 questions
Human Body Systems and Functions

Interactive video
•
6th - 8th Grade
19 questions
Math Review

Quiz
•
3rd Grade
45 questions
7th Grade Math EOG Review

Quiz
•
7th Grade