
Basic Economic Terms
Flashcard
•
Social Studies
•
6th Grade
•
Practice Problem
•
Easy
Matthew Cruz
Used 5+ times
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8 questions
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1.
FLASHCARD QUESTION
Front
Economy
Back
How a country makes and uses money and resources.
2.
FLASHCARD QUESTION
Front
Communism
Back
A system where the government owns everything and makes all economic decisions.
3.
FLASHCARD QUESTION
Front
Socialism
Back
A system where the government owns some things but allows private businesses too.
4.
FLASHCARD QUESTION
Front
Private Property
Back
Things people or businesses can own themselves.
5.
FLASHCARD QUESTION
Front
Government Ownership
Back
When the government controls certain businesses or services.
6.
FLASHCARD QUESTION
Front
Equality
Back
When everyone is treated the same or has the same things.
7.
FLASHCARD QUESTION
Front
Wealth
Back
Money and valuable resources.
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