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