Economics Vocabulary
Quiz yourself by thinking what should be in
each of the black spaces below before clicking
on it to display the answer.
Help!
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| show | One who buys or rents goods or services and uses them.
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| show | The study of the behavior of individuals and institutions engaged in the production, distribution and consumption of goods and services.
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| Economic interdependence | show 🗑
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| Entrepreneur | show 🗑
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| Federal Reserve System | show 🗑
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| GDP Gross Domestic Product | show 🗑
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| Goods | show 🗑
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| Income | show 🗑
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| show | A general rise in the price level.
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| show | Ideas, goods and services in one area affect decisions and events in other areas reducing self-sufficiency.
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| show | The lower the price of a good or service, the greater the quantity that people will buy, all else held constant (e.g., incomes, tastes).
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| show | The higher the price of a good or service, the greater the quantity that business will sell, all else held constant (e.g., resource costs, technology).
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| show | A place or process through which goods and services are exchanged.
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| show | An economic system in which decisions are made largely by the interactions of buyers and sellers.
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| show | An economic system in which decisions are made by markets, government and tradition.
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| show | Government decisions on money supply and interest rates to achieve economic goals.
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| show | A medium of exchange.
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| show | Anything found in nature that can be used to produce a product (e.g., land, water, coal).
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| Partnership | show 🗑
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| Producer | show 🗑
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| Productivity | show 🗑
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| Profit | show 🗑
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| Recession | show 🗑
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| show | Inputs used to produce goods and services; categories include natural, human and capital.
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| Scarcity | show 🗑
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| show | Actions that are valued by others.
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| show | A surcharge placed on imported goods and services. The purpose of a tariff is to protect domestic products from foreign competition.
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| Trade | show 🗑
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| show | An economic system in which decisions are made largely by repeating the actions from an earlier time or generation.
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| show | Desires that can be satisfied by consuming goods, services or leisure activities.
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| show | accumulation of those products that are tangible, scarce, useful, and transferable from one person to another
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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.
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Created by:
MrsTakahashi
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