- 1. Which of the following is a need?
A) bike
B) roller skates
C) toys
D) food
A) Someone who makes things and sells them
B) Someone who buys things
- 3. Where do natural resources come from?
A) man
B) factories
C) nature
D) school
- 4. A person who starts a business.
A) settlement
B) historian
C) industry
D) entrepreneurs
- 5. Businesses that provide a certain product or service.
A) industry
B) manufacturing
C) statehood
D) settlement
- 6. Depending on one another.
A) choice
B) interdependence
C) incentive
D) interactions
- 7. The cost of passing up the next best choices when making a decision
A) opportunity costs
B) taxes
C) choice
D) economics
- 8. To limit ones attention to one business, subject, or study
A) specialization
B) manufacturing
C) scarcity
- 9. This means not plentiful.
A) specialization
B) adapt
C) scarcity
- 10. Money collected by the government from people or businesses for public use
A) taxes
B) economy
C) scarcity
- 11. When people give up something in order to get something else is called this.
A) economy
B) taxes
C) trade off
D) scarcity
- 12. What kind of resource is a raw material?
A) capital
B) human
C) natural
- 13. Trade with other countries is called this.
A) economy
B) specialization
C) international
- 14. Wants are things people want and can not always get. To get these people must make
A) economic choices
B) natural resources
C) advertising specials
- 15. The cost of passing up the next best choice when making a decision
A) taxes
B) opportunity costs
C) economics
- 16. Things that people make or use to satisfy needs and wants are called this
A) goods
B) services
C) producers
- 17. A person who makes goods and services is called this
A) services
B) consumer
C) producer
- 18. A person who uses or buys goods and services is called this
A) consumer
B) services
C) producer
- 19. When we can't have everything you want you have to make this
A) choice
B) checks
C) money
- 20. Which of the following is not a type of resources?
A) capital
B) human
C) scarcity
D) natural
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