A way a country manages its money and resources to produce, buy, and sell goods and services.
Economics Vocabulary
Quiz
•
Vanessa McClure
•
History
•
5th - 6th Grade
•
6 plays
•
Medium
Student preview
20 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
supply
economy
voluntary exchange
loans
2.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
A measure of how many people want to buy a particular good or service.
demand
supply
interest
loans
3.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
The total amount of a good or service that is available to consumers.
interest
loans
demand
supply
4.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
A person who purchases a good or service.
Human Resources
Consumers
Producers
Services
5.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
A person or company that either makes, grows, or does a specific good or service.
Consumer
Producer
Interest
Services
6.
MULTIPLE CHOICE QUESTION
5 mins • 1 pt
The economic principle that buyers and sellers are willingly engage in free-market transactions. For this occur, both the buyer and the seller must believe that they are better off as a result of the transaction.
Banking sector
Human resources
Business sector
Voluntary Exchange
7.
MULTIPLE CHOICE QUESTION
5 mins • 1 pt
African Americans would rent someone else's land just so they can farm that land and grow goods. When the goods are grown, the sharecropper would share the money with the landowner and just keep a little bit of it.
Government Sector
Market
Sharecropping
Freedmen's Bureau
8.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
to remove or take away - in this unit, we are talking about money.
interest
loans
opportunity cost
withdraw
9.
MULTIPLE CHOICE QUESTION
2 mins • 1 pt
Where households and businesses deposit money with banks, and then withdraw it as needed to pay for purchases.
checking account
savings account
loans
personal finance
10.
MULTIPLE CHOICE QUESTION
2 mins • 1 pt
where households and businesses keep their money so it is left alone, rather than being withdrawn regularly.
checking account
savings account
loans
personal finance
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