Economics Vocabulary Question Preview (ID: 33018)


Vocabluary 4th Grade Over Economics Terms. TEACHERS: click here for quick copy question ID numbers.

capital resources
a) not enough
b) limited resources
c) things that are used to produce more goods and services
d) unlimited wants

exchange
a) someone who buys goods and services
b) water
c) not enough
d) to trade

opportunity cost
a) The cost of an ipad
b) What you give up to gain something else.
c) to trade
d) birthday wishes

consumer
a) not enought
b) to trade
c) someone who buys goods and services
d) someone who drives a school bus.

producer
a) someone who makes goods or provides services
b) a factory
c) a sheep
d) to trade

natural resources
a) trees
b) cars
c) things in nature that people see as useful.
d) a and c

limited resources
a) There are only certain amounts of resources.
b) things that are used to produce more goods and services
c) Uncle Bill
d) capital resources

human resources
a) workers and their skills
b) truck drivers
c) teachers
d) all of the above

specialization
a) when people produce only some of the goods and services they consume.
b) ox-cart man
c) buying candles
d) exhcange

scarcity
a) not enough
b) There are only certain amounts of resources.
c) workers and their skills
d) Things in nature that people see as useful

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