Economics Vocabulary
Quiz
•
Social Studies
•
3rd Grade
•
Medium
Jessica Tyree
Used 44+ times
FREE Resource
12 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
things we would like to have, but aren’t necessary for survival
demand
want
Need
supply
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
how much a good or service is available
opportunity cost
demand
supply
scarcity
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
things we must have to survive
Needs
Shortage
Wants
Surplus
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
something a person can consume (buy)
service
need
want
good
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
occurs when there are not enough resources to meet the needs and wants of humans
need
scarcity
interdependence
opportunity cost
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
someone who creates goods or services to sell to consumers
good
consumer
service
producer
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
when producers have more supply than demand
demand
surplus
shortage
supply
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