A source or supply of useful material.

The money made from a sale after all the costs were paid off

How much of a product or service people are willing to buy.

Payment for labor or services to a worker, usually on an hourly basis.

How much of a product or service is available for people to purchase.

The study of how people make and sell goods to meet their need

Limits that keep people from having what they want.

Skills, knowledge, and experience that a person brings to the workplace.

Money collected after all taxes and bonuses have been calculated.

Any structure that allows buyers and sellers to exchange any type of goods

A plan for spending and saving money over a certain period of time.

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Economic Vocabulary

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Practice your Economic Vocabulary on this Quiz! Have fun!

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Questions 15

Answers

1
Resources
A source or supply of useful material.
A source of useful mayterial
Sources to get money
A source or supply of usefull material
2
TRUE or FALSE : Supply is the same as Resources
False
True
3
Profit
Pro is Fit not Fat
The money made from a sale after all the costs were paid off
Money!
Lemonade Stand
4
Demand
I deman you!!!!!
How much of a product or service people are willing to buy.
How much of a product or service
I NEED It!!!!!!
5
Wage
Wage is WAGE!!!
Payment for labor or services to a worker, usually on an hourly basis.
Payment for labour or services to a person on a hourly basis.
Way too much money.
6
Supply
How much money I need to get clothes
How much of a product or service is available for peple to purchase.
Stuff I have to sell
How much of a product or service is available for people to purchase.
7
Economics
The study of how people make and sell goods and services to meet my needs.
Ecosystem
The study of people dancing
The study of how people make and sell goods to meet their need
8
Scarcity
Limits that keep people from having what they want.
Limits that keep people done
Limits that keep me from DANCING!!!
Limits that keep people from wat thay want
9
Human Capital
I am a HUMAN!!!!!!
Skills, knowledge, and experience that a person brings to the workplace.
My Heart
St. Paul
10
TRUE or FALSE : Demand is not the same as Supply
True
False
11
Income
Money collected after all taxes and bonuses have been calculated.
Coming in
MONEY coming INNNNNNNN!!!!!!!
Money so I can DANCE!!!
12
Interest
Bank money!!!!!!
The money paid to a lender
This is interesting!!!
I...N...T...E...R...E...S...T...
13
Market
Any structure that allows buyers and sellers to exchange any type of goods
Any Structure that allows buyers to buy things!
BUT CLOTHES!!!
BUY FOOD!!!
14
Budget
Money
Buddy Get
A plan for spending and saving money over a certain period of time.
A plan for spending and saving money
15
TRUE or FALSE : Supply and Demand are the Same Thing
False
True

Economic Vocabulary Flashcards | StudBud