Economics Review Question Preview (ID: 32642)
Economics.
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The activity of buying, selling, or exchanging goods or servicies is called ...
a) trade
b) opportunity cost
c) productivity
d) goods
People or businesses that provide goods or services are called . . .
a) goods
b) service
c) producers
d) economics
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
Someone who buys and uses goods and services is called a . . .
a) service
b) producer
c) consumer
d) trade
______ 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
Objects or things people want or need are called ___
a) goods
b) trade
c) price incentivies
d) producers
___________ is the value or cost of what is given up when a choice is made.
a) productivity
b) specialization
c) trade
d) opportunity cost
The rate at which goods and services are produced is called
a) specialization
b) price incentive
c) productivity
d) trade
An action a person or business does for someone else is called a
a) goods
b) service
c) price incentive
d) opportunity cost
__________________ 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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