economic
Quiz yourself by thinking what should be in
each of the black spaces below before clicking
on it to display the answer.
Help!
|
|
||||
|---|---|---|---|---|---|
| incentives | things that incite or motivate to change your economic behavior
🗑
|
||||
| consumer sovereignty | consumers determine through purchases what goods and services will be produced
🗑
|
||||
| price | the amount of money exchanged for a good or service
🗑
|
||||
| profit | consists of earning after all expenses have been paid
🗑
|
||||
| circular flow | resources, goods, services, and many flowing throughout the economy
🗑
|
||||
| opportunity cost | what is given up when a choice is made- the highest valued alternative
🗑
|
||||
| sole proprietorship | a business owned by one person who takes all of the risks and all of the profits
🗑
|
||||
| private property |
property owned by individuals and businesses for use without undue interference by the government
🗑
|
||||
| resources | factors of production that are used in the production of goods and services
🗑
|
||||
| production | the combing of human, natural, capital, and business resource to make goods and services
🗑
|
||||
| entrepreneur | a person who takes a risk to produce goods and services in search of a profit
🗑
|
||||
| scarcity | the inanity to satisfy all wants at the same time
🗑
|
||||
| competition |
rivalry between producers and sellers of goods and services that results in better quality goods and services at a lower price
🗑
|
||||
| human resources | time, energy , and skills needed to produce goods and services
🗑
|
||||
| corporation | a large businesses with many owners called stock holders
🗑
|
||||
| natural resources | the resources from land that are needed to produce goods and services
🗑
|
||||
| consumption | using goods and services
🗑
|
||||
| choice | selecting an item or action from a set of alternatives
🗑
|
||||
| partnership | a form of business owned by 3 or more individuals who share of the risks and profits
🗑
|
||||
| capital resources | the tools, machinery, factories and money that are used in providing goods and services
🗑
|
||||
| supply | the amount of a good or service that producers are willing and able to sell at a certain price
🗑
|
||||
| demand | the amount of a good or service that consumers are willing and able to sell at a certain price
🗑
|
||||
| consumer | people who buy and use products
🗑
|
||||
| producer | people who use resources to provide goods and services
🗑
|
||||
| economy | the management of the resources of a country
🗑
|
Review the information in the table. When you are ready to quiz yourself you can hide individual columns or the entire table. Then you can click on the empty cells to reveal the answer. Try to recall what will be displayed before clicking the empty cell.
To hide a column, click on the column name.
To hide the entire table, click on the "Hide All" button.
You may also shuffle the rows of the table by clicking on the "Shuffle" button.
Or sort by any of the columns using the down arrow next to any column heading.
If you know all the data on any row, you can temporarily remove it by tapping the trash can to the right of the row.
To hide a column, click on the column name.
To hide the entire table, click on the "Hide All" button.
You may also shuffle the rows of the table by clicking on the "Shuffle" button.
Or sort by any of the columns using the down arrow next to any column heading.
If you know all the data on any row, you can temporarily remove it by tapping the trash can to the right of the row.
Embed Code - If you would like this activity on your web page, copy the script below and paste it into your web page.
Normal Size Small Size show me how
Normal Size Small Size show me how
Created by:
aidan bass
Popular History sets