Name:
Date:
Directions: Write the letter of the definition in the box before the word it defines.
Use capital letters.
A.
the passing out, sharing or delivering of goods to people or an area
1. capital goods
B.
the buying and using of goods and services
2. consumption
3. distribution
4. economic
5. entrepreneur
C.
the exchange of goods, services, and resources between buyers and sellers
D.
a person who sets up and puts money into the making of goods or services in order to make a profit
E.
human-made materials needed to produce goods and services -
Examples: buildings, machinery, equipment and tools
F.
capital goods, human resources, and natural resources
6. market
7. production
8. risk
9. productive resources
10. specialization
G.
being an expert on one job, product or service; producing only a few products instead of many different products
H.
having to do with the production and consumption of goods and services for an entire community (or area) when looked at as a whole
I.
the danger that an injury, damage, or loss will happen
J.
the putting together of natural, human and capital resources to make either a good or a service
History from the Ohio Hills 72 Economics Vocabulary Quiz 1

Directions: Write the letter of the definition in the box before the word it defines. Use capital letters.
E 1. capital goods A.
the passing out, sharing or delivering of goods to people or an area
B 2. consumption
A 3. distribution
H 4. economic
D 5. entrepreneur
C 6. market
J 7. production
I 8. risk
F 9. productive resources
G 10. specialization
B.
the buying and using of goods and services
C.
the exchange of goods, services, and resources between buyers and sellers
D.
a person who sets up and puts money into the making of goods or services in order to make a profit
E.
human-made materials needed to produce goods and services -
Examples: buildings, machinery, equipment and tools
F.
human resources, capital goods, and natural resources
G.
being an expert on one job, product or service; producing only a few products instead of many different products
H.
having to do with the production and consumption of goods and services for an entire community (or area) when looked at as a whole
I.
the danger that an injury, damage, or loss will happen
J.
the putting together of natural, human and capital resources to make either a good or a service
History from the Ohio Hills 73 Economics Vocabulary Quiz 1