Economics Question Preview (ID: 32082)


Economics Vocabulary. TEACHERS: click here for quick copy question ID numbers.

How many goods or services can a business make during a certain time
a) Business Productivity
b) Saving
c) Spending
d) Budget

Plan that helps you decide how to spend or save money
a) Budget
b) Buy
c) Spending
d) Standard of Living

How good a person's quality of life is
a) Standard of Living
b) Budget
c) Saving
d) Business Productivity

Put money aside to use another time
a) Saving
b) Business Productivity
c) Budget
d) Standard of Living

When a person chooses to focus on one special product
a) Specialization
b) Budget
c) Standard of Living
d) Price Incentives

Using money to buy goods or services
a) Spending
b) Budget
c) Standard of Living
d) Saving

Something given to encourage a desired action
a) Price Incentives
b) Voluntary Exchange
c) Budget
d) Voluntary Exchange

Ways technology improves the quality of life
a) Technological Advancement
b) Price Incentives
c) Voluntary Exchange
d) Saving

Give up because you choose to do or buy something else
a) Opportunity Cost
b) Saving
c) Price Incentives
d) Technological Advancement

Choose to trade one item for another
a) Voluntary Exchange
b) Price Incentives
c) Technological Advancement
d) Opportunity Cost

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