Basic Economic Terms

Basic Economic Terms

Assessment

Flashcard

Other

1st - 3rd Grade

Hard

Created by

Judy Swift

FREE Resource

Student preview

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12 questions

Show all answers

1.

FLASHCARD QUESTION

Front

Scarcity

Back

when there is not a lot of something

2.

FLASHCARD QUESTION

Front

Produce

Back

to make a good or perform a service

3.

FLASHCARD QUESTION

Front

Trade

Back

The exchange of goods and services

4.

FLASHCARD QUESTION

Front

Needs

Back

things you must have to live

5.

FLASHCARD QUESTION

Front

Export

Back

to sell goods and services to another country

6.

FLASHCARD QUESTION

Front

Wants

Back

things you would like to have, but don't need to have

7.

FLASHCARD QUESTION

Front

Import

Back

to buy goods and services from another country

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