Economics quiz

What means to use money to make more money?

• save

• invest

• economy

• income

Which means to set aside money to use later?

• save

• invest

• economy

• income

The way a society organizes the production and consumption of goods and services and answers the questions of what, how and for whom to produce is called what?

• goods

• entrepreneur

• economy

• specialization

What do you call money a person earns?

• goods

• opportunity cost

• economy

• income

What do you call a person who creates and manages a business?

• entrepreneur

• scarcity

• economist

• farmer

When workers focus on doing only one part of a job it's called....

• opportunity cost

• human resources

• specialization

• producer

The cost of what you are giving up to get something you want more is called....

• opportunity cost

• specialization

• economy

• scarcity

Goods that are used to produce other goods or services like tools, machines, or buildings are .....

• human resources

• natural resources

• capital resources

• economy

People and their health, education, experience, training, skills, and values are...

• goods

• natural resources

• capital resources

• human resources

Resources found naturally on Earth that can be used to produce goods are called....

• goods

• natural resources

• capital resources

• human resources