Economics and Career Concepts

Economics and Career Concepts

Assessment

Flashcard

Business

8th Grade

Hard

Created by

Natalie Sheridan

Used 1+ times

FREE Resource

Student preview

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34 questions

Show all answers

1.

FLASHCARD QUESTION

Front

Needs/ Necessities

Back

Basic requirements for survival, such as food, water, and shelter.

2.

FLASHCARD QUESTION

Front

Wants/Luxuries

Back

Desires for non-essential items that enhance comfort and pleasure.

3.

FLASHCARD QUESTION

Front

Goods/products

Back

Tangible items that satisfy human wants and provide utility.

4.

FLASHCARD QUESTION

Front

Services

Back

Intangible activities or benefits provided to satisfy needs or wants.

5.

FLASHCARD QUESTION

Front

Opportunity cost

Back

The loss of potential gain from other alternatives when one alternative is chosen.

6.

FLASHCARD QUESTION

Front

Value

Back

The importance, worth, or usefulness of something.

7.

FLASHCARD QUESTION

Front

Additional/Associated costs

Back

Extra expenses related to a purchase or decision.

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