Economics Vocab Test

Economics Vocab Test

9th - 12th Grade

10 Qs

quiz-placeholder

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Economics Vocab Test

Economics Vocab Test

Assessment

Quiz

Social Studies

9th - 12th Grade

Medium

Created by

Eric Baptist

Used 3+ times

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10 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

Media Image

Anything that can be used to fulfill a need/want

Resource

Supply

Good

Money

2.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

Media Image

The study of making decisions about how to use resources

Opportunity Cost

Economics

Trade-off

Money

3.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

Media Image

The value of exchange for something.

Exchange

Cost

facilitation

Supply

4.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

Media Image

An item that is used as money, but which also has value from its use as something other than money

Good

Supply

Resource

Commodity Money

5.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

Media Image

Literally, trading one good or service for another, without using money

Food Stamps

Barter

Sell

Buy

6.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

Media Image

An accounting tool that lists assets and liabilities

Balance Sheet

Money

Opportunity cost

Economics

7.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

Media Image

The excess of the asset value over and above the amount of the liability; total assets minus total liabilities

Excess

Trade - Off

Net Worth

Abundance

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