1) Things that can be bought or sold a) Goods b) Service c) Supply d) Production 2) People who make goods and services  a) Producation b) Capital c) Producer d) entrepreneur 3) Skills and time that people give to make something a) Human Resources b) Natural Resources c) Capital Resources d) Division of Labor 4) Exchanging one goods/services for another a) services b) Trade c) production d) specialization 5) CAPITALISM- system with free trade and competition  a) opportunity b) division of labor c) Market Economy d) demand 6) people who take risks to start business a) Entrepreneurs b) industry c) producers d) consumers 7) Amount of goods we have (how much HAVE) a) capital resources b) Supply c) services d) demand 8) The act of making a good or service a) industry b) consumer c) goods d) Production 9) people focus production to limited kinds of goods or services a) interdependence b) opportunity cost c) economic decisions d) Specialization 10) Making choices based on scarcity a) Economic Decisions b) present /future consequences c) opportunity cost d) specialization 11) businesses that make one kind of product a) services b) demand c) economic d) Industry 12) making, distributing, selling and buying of goods and services a) production b) industry c) services d) economics 13) What we give up when we make a choice a) economic descision b) interdependence c) Opportunity cost d) economics 14) how work tasks are divided a) division of labor b) production c) supply d) demand 15) Level of interest in a product (How much WANT) a) capital resources b) demand c) supply d) market economy 16) tools used to produce goods or services a) natural resource b) human resource c) Capital resource d) production 17) effect from and action a) economic decicion b) present/future Consequence c) market economy d) specialization 18) PEOPLE whose wants are satisfied USING goods or services a) producers b) services c) Consumers d) entrepreneurs 19) one country/region relying on another a) consequences b) division of labor c) trade d) interdependence 20) activities done by others for pay a) economics b) interdependence c) service d) production 21) resources found in nature a) human resource b) supply c) capital resource d) natural resource

Econmics

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