Economics QUiz

A person who makes goods and/or provides services.

• Wants

• Opportunity cost

• Producer

• Natural resources

A person who buys and uses goods and/or services.

• Scarcity

• Money

• Barter

• Consumer

Things we would like to have, but don't need to live.

• Wants

• Human resources

• Producer

• Economic choice

Things that we need to live and survive.

• Natural resources

• Needs

• Opportunity cost

• Consumer

Not being able to meet all wants at the same time because resources are limited.

• Consumer

• Natural resources

• Money

• Scarcity

The choice that is made

• Economic choice

• Barter

• Opportunity cost

• Producer

The choice that is given up

• Capital resources

• Opportunity cost

• Money

• Economic choice

Not being able to meet all wants at the same time because resources are limited

• Natural resources

• Consumer

• Scarcity

• Economic choice

Human-made resource that helps make goods

• Natural resources

• Capital resources

• Barter

• Human resources

These are people who do jobs

• Opportunity cost

• Natural resources

• Capital resources

• Human resources