- 1. Which of the following is a need?
A) roller skates
B) food
C) bike
D) toys
A) Someone who makes things and sells them
B) Someone who buys things
- 3. Where do natural resources come from?
A) man
B) nature
C) factories
D) school
- 4. A person who starts a business.
A) industry
B) settlement
C) entrepreneurs
D) historian
- 5. Businesses that provide a certain product or service.
A) manufacturing
B) statehood
C) settlement
D) industry
- 6. Depending on one another.
A) interdependence
B) incentive
C) interactions
D) choice
- 7. The cost of passing up the next best choices when making a decision
A) opportunity costs
B) taxes
C) choice
D) economics
- 8. To limit ones attention to one business, subject, or study
A) manufacturing
B) specialization
C) scarcity
- 9. This means not plentiful.
A) adapt
B) specialization
C) scarcity
- 10. Money collected by the government from people or businesses for public use
A) taxes
B) economy
C) scarcity
- 11. When people give up something in order to get something else is called this.
A) taxes
B) economy
C) trade off
D) scarcity
- 12. What kind of resource is a raw material?
A) natural
B) capital
C) human
- 13. Trade with other countries is called this.
A) international
B) specialization
C) economy
- 14. Wants are things people want and can not always get. To get these people must make
A) advertising specials
B) natural resources
C) economic choices
- 15. The cost of passing up the next best choice when making a decision
A) economics
B) taxes
C) opportunity costs
- 16. Things that people make or use to satisfy needs and wants are called this
A) producers
B) services
C) goods
- 17. A person who makes goods and services is called this
A) consumer
B) producer
C) services
- 18. A person who uses or buys goods and services is called this
A) producer
B) services
C) consumer
- 19. When we can't have everything you want you have to make this
A) choice
B) money
C) checks
- 20. Which of the following is not a type of resources?
A) natural
B) capital
C) scarcity
D) human
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