Chapter 9 Vocabulary

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Fun game to play to study for vocab quiz

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Ellianna DeMay

United States

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Chapter 9 Vocabulary


Froggy Jumps Chapter 9 VocabularyOnline version Fun game to play to study for vocab quiz by Ellianna DeMay 1 A person who thinks of an idea for a new product or business and then works to build that business. a entrepreneur b entrepreneurial c invest 2 Taking a financial risk by starting a new business. a proprietorship b entrepreneurial c opportunity cost 3 ______ is the study of decision making a profit b proprietorship c economics 4 A group that legally acts as a single business entity, sharing ownership and profits, but with some financial protection for shareholders. a corporation b command economy c commerce 5 Owning a business with full responsibility for running it. a mixed economy b free enterprise c proprietorship 6 the resources people have for producing goods and services to satisfy their wants. a scarcity b factors of production c entrepreneur 7 anything produced in an economy that is used to produce other goods and services. a capital b commerce c consumption 8 the act of buying or using goods and services. a entrepreneurial b economics c consumption 9 what you lose when making a choice. a economics b opportunity cost c command economy 10 the inability to satisfy all wants at the same time, because all resources and goods are limited. a traditional economy b invest c scarcity 11 when the wants and needs of consumers dictate what products are made. a consumer sovereignty b economics c factors of production 12 the basic economic decisions are made according to long-established patterns of behavior. a proprietorship b economics c traditional economy 13 the government or a central authority owns or controls the factors of production and makes the basic economic decisions. a traditional economy b command economy c entrepreneurial 14 a system in which private individuals own the factors of production and are free to make their own choices about production, distribution, and consumption. a market economy b factors of production c capital 15 the difference between the total cost of production and the total revenues received from buyers. a scarcity b commerce c profit 16 to use your money to help a business get started to grow, with the hope that the business will earn a profit in which you can share a capital b invest c mixed economy 17 refers to the system in which individuals in a market economy are free to undertake economic activities with little or no control by the government. a free enterprise b opportunity cost c proprietorship 18 One that is a mixture of traditional, command, and market economies. a mixed economy b capital c scarcity 19 a system of producing and distributing goods and services to fulfill a person’s wants. a profit b factors of production c economy 20 the buying and selling of goods, especially on a large scale and between different places. a economics b commerce c traditional economy

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Chapter 9 Vocabulary

Froggy Jumps

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Chapter 9 VocabularyOnline version

by Ellianna DeMay

A person who thinks of an idea for a new product or business and then works to build that business.

Taking a financial risk by starting a new business.

______ is the study of decision making

A group that legally acts as a single business entity, sharing ownership and profits, but with some financial protection for shareholders.

Owning a business with full responsibility for running it.

the resources people have for producing goods and services to satisfy their wants.

anything produced in an economy that is used to produce other goods and services.

the act of buying or using goods and services.

what you lose when making a choice.

the inability to satisfy all wants at the same time, because all resources and goods are limited.

when the wants and needs of consumers dictate what products are made.

the basic economic decisions are made according to long-established patterns of behavior.

the government or a central authority owns or controls the factors of production and makes the basic economic decisions.

a system in which private individuals own the factors of production and are free to make their own choices about production, distribution, and consumption.

the difference between the total cost of production and the total revenues received from buyers.

to use your money to help a business get started to grow, with the hope that the business will earn a profit in which you can share

refers to the system in which individuals in a market economy are free to undertake economic activities with little or no control by the government.

One that is a mixture of traditional, command, and market economies.

a system of producing and distributing goods and services to fulfill a person’s wants.

the buying and selling of goods, especially on a large scale and between different places.