Econ Vocab for Lemonade War

Econ Vocab for Lemonade War

1st - 5th Grade

24 Qs

quiz-placeholder

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Econ Vocab for Lemonade War

Econ Vocab for Lemonade War

Assessment

Quiz

Education

1st - 5th Grade

Easy

Created by

Emily Sharp

Used 3+ times

FREE Resource

24 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Slump

  • a drop in the activity of a business or the economy

organization involved in the trade of goods or services or both  to consumers

  • the production, distribution or trade, and consumption of limited goods and services by different companies in a given location

  • different between the money people make when they produce and sell a good or service and all their costs of production

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

business

organization involved in the trade of goods or services or both  to consumers

  • the production, distribution or trade, and consumption of limited goods and services by different companies in a given location

  • different between the money people make when they produce and sell a good or service and all their costs of production

  • gifts of nature that are used in the production or goods/services

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

economy

  • the production, distribution or trade, and consumption of limited goods and services by different companies in a given location

  • different between the money people make when they produce and sell a good or service and all their costs of production

  • gifts of nature that are used in the production or goods/services

  • goods produced and used to make other goods or services

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

profit

  • different between the money people make when they produce and sell a good or service and all their costs of production

  • gifts of nature that are used in the production or goods/services

  • goods produced and used to make other goods or services

people who work to produce goods and services

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

natural resource

  • gifts of nature that are used in the production or goods/services

  • goods produced and used to make other goods or services

  • people who work to produce goods and services

  • in short supply; not enough

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

breakup

  • dissolution of a unit, an organization, or a group of organizations

  • describe or draw attention to a product, service or event in a public medium in order to promote sales or attendance

  • two or more people joining forces to sell a certain amount of goods or to work on a single project

  • what people pay when they purchase a good or service 

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

market

  • this exists whenever people buy and sell goods and services, where prices are determined

  • when you make a decision, the most valuable alternative that you give up

rivalry in the marketplace

pricing the same goods for less than the competition

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