Economics Review: Question Preview (ID: 32642)

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An action a person or business does for someone else is called a
a) goods b) service c) price incentive d) opportunity cost
The rate at which goods and services are produced is called
a) specialization b) price incentive c) productivity d) trade
___________ is the value or cost of what is given up when a choice is made.
a) productivity b) specialization c) trade d) opportunity cost
Objects or things people want or need are called ___
a) goods b) trade c) price incentivies d) producers
______ means to focus on only one job or part of a job to work more efficiently.
a) productivity b) specialization c) opportunity cost d) trade
Someone who buys and uses goods and services is called a . . .
a) service b) producer c) consumer d) trade
The strand of Social STudies that deals with the way goods are produced, distributed, and used is called . .
a) price incentives b) economics c) consumer d) producer
People or businesses that provide goods or services are called . . .
a) goods b) service c) producers d) economics
The activity of buying, selling, or exchanging goods or servicies is called ...
a) trade b) opportunity cost c) productivity d) goods
__________________ are used to motivate people's behavior and choices when buying something
a) trade b) productivity c) price incentives d) opportunity cost
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