Economics Concepts Review

Economics Concepts Review

Assessment

Flashcard

Social Studies

6th Grade

Hard

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23 questions

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1.

FLASHCARD QUESTION

Front

An economic system characterized by private (citizen) ownership of businesses and property.

Back

Free enterprise (capitalist)

2.

FLASHCARD QUESTION

Front

An economic system of shared ownership of resources which provide a more equal distribution of goods and services.

Back

Socialist

3.

FLASHCARD QUESTION

Front

A system based on the culture and traditions of the past.

Back

Traditional economy

4.

FLASHCARD QUESTION

Front

An economic system of shared ownership of resources which provide a more equal distribution of goods and services.

Back

Socialist economy

5.

FLASHCARD QUESTION

Front

A factor of production that includes people with new, innovative ideas who start businesses

Back

Entrepreneurs

6.

FLASHCARD QUESTION

Front

A factor of production that includes workers and their efforts and abilities.

Back

Labor

7.

FLASHCARD QUESTION

Front

The factor of production that includes the tools, buildings, equipment and factories used in productions

Back

Capital

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