Economics Vocabulary

Economics Vocabulary

6th - 8th Grade

13 Qs

quiz-placeholder

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Economics Vocabulary

Economics Vocabulary

Assessment

Quiz

Social Studies

6th - 8th Grade

Hard

Created by

Shyanne F

Used 5+ times

FREE Resource

13 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 10 pts

The value of all the goods and service produced in a country in one year

Exchange Rate

Human Capital

Entrepreneurs

GDP (Gross Domestic Product)

2.

MULTIPLE CHOICE QUESTION

30 sec • 10 pts

How much a person has

Literacy Rate

Supply

Opportunity Cost

Currency

3.

MULTIPLE CHOICE QUESTION

30 sec • 10 pts

Items that people need to perform their jobs (factories, machinery, technology), invest in it by updating machinery and new computers

Capital Goods

Natural Resources

Specialization

Standard of Living

4.

MULTIPLE CHOICE QUESTION

30 sec • 10 pts

People with new ideas that are willing to take risks to start a business or make a product

GDP (Gross Domestic Product)

Literacy Rate

Entrepreneurs

Opportunity Cost

5.

MULTIPLE CHOICE QUESTION

30 sec • 10 pts

People who perform labor, invest by training and education

Exchange Rate

Capital Goods

Human Capital

Supply

6.

MULTIPLE CHOICE QUESTION

30 sec • 10 pts

Special in what they do best

Demand

Specialization

Opportunity Cost

Currency

7.

MULTIPLE CHOICE QUESTION

30 sec • 10 pts

What or how much a person wants (Demands)

Standard of Living

Demand

Natural Resources

Entrepreneurs

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