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Economics
Economics
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Middle schools economics vocabulary
Flashcards
20 cards
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Practice quiz
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Host live
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Questions
20
Answers
1
Borrowing money to be paid at a specific time in the future
Credit
Stocks
Income
Bonds
2
The things you spend money on are your
Income
Expenses
Credit
Stocks
3
When you set aside money for a specific purpose
Opportunity Cost
Budget
Trade-off
Income
4
When the DEMAND of a product goes down, the price goes
up
down
5
Money added back into an account or a deferred payment
Trade-offs
Stocks
Credit
Bonds
6
The use of all of a country's resources, but is usually referring to money
Income
Investment
Credit
Economy
7
The option you lose out on when you've made a decision
Income
Scarcity
Trade-offs
Opportunity Costs
8
When a resource may run out
Trade-offs
Bonds
Scarcity
Investment
9
When making a budget, you should worry about ___________ then _________.
needs, wants
wants, needs
10
Rivalry between businesses to attract consumers
Competition
Stocks
Opportunity Costs
Market Economy
11
When the DEMAND of a product goes up, the price goes
up
down
12
A place's money, workers, minerals, goods, and services
Resources
Stocks
Bonds
Economy
13
Business decisions are based off of supply and demand, not the government's interference.
Resources
Market Economy
Property Rights
Opportunity Costs
14
The options you have when facing a decision
Trade-offs
Stocks
Opportunity Costs
Scarcity
15
When the supply of a product goes down, the price goes
down
up
16
The money that you make or earn
Income
Budget
Trade-off
Opportunity Cost
17
Putting money into something in the hopes it will grow more money for you
Opportunity Costs
Investment
Trade-offs
Property Rights
18
When the supply of a product goes up, the price goes
up
down
19
Balance between a country's exports and imports
Budget
Stocks
Economy
Balance of Trade
20
Owning a share of a company
Investment
Bonds
Stocks
Income