The science that deals with the production, distribution, and consumption of goods and services
Economics Vocab

Quiz
•
Business
•
9th Grade
•
Easy
Jessica Collins
Used 8+ times
FREE Resource
11 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
Supply & Demand theory
Economics
Voluntary Exchange
Market value
2.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
Goods or services available to individuals and businesses used to make consumer products.
Supply
Demand
Product/Servicee
Economic Resources
3.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
the value of the next best alternative when one option is chosen over another.
Opportunity Cost
Voluntary Exchange
Market
Price Signal
4.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
Any place where buyers and sellers meet to exchange goods and services
Voluntary Exchange
Opportunity Cost
Market
Free market economy
5.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
The act of producers and consumers freely and willingly engaging in market transactions.
Supply & Demand
Opportunity cost
Voluntary exchange
Equilibrium
6.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
How much of the goods or services consumers are willing and able to buy
Demand
Supply
Quantity
Price
7.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
The amount of a good or service that producers are willing to provide.
Supply
Demand
Scarcity
Excess
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