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Economics Flashcards | StudBud
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Economics
Economics
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Terms over economics
Flashcards
12 cards
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Practice quiz
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Questions
12
Answers
1
What is making money by helping people
Scarcity
Barter
Opportunity Cost
Service
2
What is opportunity cost?
selling your house
choosing one option for another
Money you owe for borrowing
trading equally
3
People that make items and sell them
Economist
Consumers
Services
Producers
4
What is it called having to pay extra money to borrow money?
Scarcity
Income
Interest
Credit Card
5
When you don't have enough of something
Supply and Demand
Scarcity
Interest
Opportunity Cost
6
What are items people buy?
Goods
Needs
Scarcity
Wants
7
When the price goes up because people really want it
Supply and Demand
Interest
Scarcity
Barter
8
Money that you make is called....
Income
Wants
Interest
Barter
9
Which is not a service?
Teacher
Doctor
Lawyer
NFL Player
10
Which is an equal trade?
car - scooter
airplane - candy bar
boat - 4 wheeler
pencil - pen
11
Which is and example of a want and not a need?
Water
Apartment
Vegetables
Computer
12
Food, clothing, shelter
Wants
Goods
Needs
Services
