The inability to satisfy all wants at the same time because all resources and goods are limited.
Market Terms

Quiz
•
Special Education
•
8th Grade
•
Medium
Tom Kilday
Used 2+ times
FREE Resource
15 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
Opportunity cost
Incentives
Scarcity
2.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
Factors of production used to make goods.
Opportunity cost
Incentives
Resources
Production
3.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
________ is a selection of an item or action from a set of possible alternatives
Opportunity cost
Choice
Production
4.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
When a choice is made, __________is the value of what you are giving up.
Opportunity cost
Choice
Production
5.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
The amount of money exchanged for a good
Price
Choice
Incentive
6.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
Things that create or insite motivation to purchase, like two for one coupon at macdonies
Opportunity cost
Choice
Incentive
7.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
These are used to change ecomomic or money spending behavior.
Opportunity cost
Choice
Incentive
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