Slump
Econ Vocab for Lemonade War

Quiz
•
Education
•
1st - 5th Grade
•
Easy
Emily Sharp
Used 3+ times
FREE Resource
24 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
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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