Grade 10.

1 Economics Worksheet 28-09- 2022

Name:__________________________________________________________

Use the key terms from the list below to complete the sentences that follow.

1. capital goods 6. opportunity cost

2. consumer goods 7. scarcity
3. economics 8. services
4. factors of production 9. utility
5. human capital 10. value

1. Economic products designed for final use by people are called _________________________ .
2. The _________________________ of a CD player can be expressed in dollars and cents.
3. Haircuts and appliance repairs are examples of ______________________________________ .
4. _______________________________ arises because society does not have enough resources to
produce all the things people would like to have.
5. The _________________________________ of going to a football game instead of working
would include the money not earned at your job.
6. _________________________ is the sum of the skills, abilities, health, and motivation of people.
7. ______________________ is another name for the capacity of a product to be useful.
8. The only factors of production that are themselves the result of earlier production are
_______________________________ .

9. Land, capital, labor, and entrepreneurs are _________________________________________ .

10. ________________ is the study of how people use limited resources to satisfy unlimited wants
Use each of the following terms in a sentence that reflects the economic meaning of the term .
11. (scarcity)
________________________________________________________________________________

12. (nonrenewable)
________________________________________________________________________________

13. (opportunity cost)

________________________________________________________________________________

15. (efficiency)
________________________________________________________________________________
16. (productivity)
________________________________________________________________________________