Vocabulary Quiz Economics

The quantity of an article or service that is wanted at a specified price/time.

• Demand

• Supply

• Goods

• Services

The workers who make goods or provide services.

• Human Resource

• Capital Resource

• Goods

• Entrepreneur

Definition: A person who sets up a new business.

• Entrepreneur

• Supply

• Goods

• Industry

Manufactured articles or products of art or craft.

• Goods

• Services

• Supply

• Entrepreneur

The quantity or amount of something that is needed or available.

• Supply

• Demand

• Goods

• Scarcity

Useful labor that does not produce goods.

• Services

• Goods

• Supply

• Industry

Not having enough of something.

• Scarcity

• Supply

• Goods

• Entrepreneur

All the businesses that make one kind of product or provide one kind of service.

• Industry

• Supply

• Goods

• Entrepreneur

Are things that come from nature and help us live and grow.

• Natural Resource

• Supply

• Human Resource

• Capital Resource

An economy in which the prices of goods and services are determined when prices are set by supply and demand.

• Market Economy

• Scarcity

• Goods

• Entrepreneur