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CE SOL 11 Vocabulary Review Flashcards | StudBud
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CE SOL 11 Vocabulary Review
CE SOL 11 Vocabulary Review
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Vocabulary Check
Flashcards
9 cards
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Questions
9
Answers
1
The particular amount that is offered or asked for when something is bought or sold...
Cost
Supply
Price
Choice
2
The picture below represents what economics term....
Demand
Resources
Incentive
Opportunity Cost
3
Individuals must consider the value of what is given up when making a choice.
Opportunity Cost
Lack of Opportunity
Opportunity Lost
Opportunity
4
Combining of land, labor, capital, and entrepreneurship to make goods or provide services.
Consumption
Production
Choice
Cost
5
Once upon a time in the land of civics your teacher's legal last name was...
Walters
Guerre-Chaley
Wells
G
6
The definition of scarcity ....
Ability to satisfy all wants at the same time.
Factors of production used in the production.
What is given up when a choice is made.
Inability to satisfy all wants at the same time.
7
The purchase and use of goods and services or a quantity of goods and services.
Choice
Price
Production
Consumption
8
When you have more of an item to sell, what happens to the price?
Stays the Same
Charlie Brown's dog snoopy knows
Goes up
Goes Down
9
a person, thing, or course of action selected by someone from among a range of options
opportunity cost
cost
choice
supply
