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Economics Grade 6 Definitions and Terms Flashcards | StudBud
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Economics Grade 6 Definitions and Terms
Economics Grade 6 Definitions and Terms
10 terms
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This meets some of the Ohio Common Core standards.
Flashcards
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Questions
10
Answers
1
This is also called labor
Import
Service
Trade Off
Work
2
What is consumer's desire and willingness to pay a price for a specific good or servicer?
Service
Entrepreneurship
Demand
International Trade
3
If a person takes the risk of running a business it is called...
Entrepreneurship
Cost
Service
Demand
4
An item that you can touch or hold.
Import
Shipping
Goods
Export
5
An example of computers being brought into the US from Japan is..
Import
Trade-off
International Trade
Export
6
A forrest, river and lakes are examples of...
Natural Resoure
Capital Resource
Productive Resource
Service
7
When a company only makes
one
kind of product what is it called?
Specialization
Scarcity
Supply
International Trade
8
When there is not a lot of products then what is it called?
Demand
Supply
Scarcity
Service
9
The US is shipping out meat to another country is an example of...
Import
Export
Market
International Trade
10
What is it called when there is more than enough needed?
Labor
Surplus
Opportunity Cost
Export
