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QUIZ

2nd
-
5th
grade

Social Studies

71%

accuracy

1

play

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3 years

Social Studies

2nd -

5thgrade

Economics Vocabulary Practice

user

1
play

12 questions

12 questions

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1. Multiple Choice
2 minutes
1 pt
Things we purchase are _______.
services
goods
2. Multiple Choice
2 minutes
1 pt
Things that we pay people to do for us are ________.
services
goods
3. Multiple Choice
2 minutes
1 pt
____ is how much people want a product.
Demand
Scarcity
4. Multiple Choice
2 minutes
1 pt
____ is how much of a product is available.
Supply
Demand
5. Multiple Choice
2 minutes
1 pt
_____ is the lack of a specific resource.
Scarcity
Opportunity cost
6. Multiple Choice
2 minutes
1 pt
Someone that buys a product is a ________.
producer
consumer
7. Multiple Choice
2 minutes
1 pt
Someone that makes a product is a ________.
consumer
producer
8. Multiple Choice
2 minutes
1 pt
What is opportunity cost?
your choice
what you give up to make a choice
9. Multiple Choice
2 minutes
1 pt
A person who purchases a good or service
consumer
taxes
supply
good
10. Multiple Choice
2 minutes
1 pt
A person who provides a good or service
producer
need
want
consumer
11. Multiple Choice
2 minutes
1 pt
Basic things humans need to survive
need
want
import
demand
12. Multiple Choice
2 minutes
1 pt
Extras that make life more enjoyable
want
need
producer
savings
Answer choices
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Answer choices
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