Economics Vocabulary
Authored by Danielle Wentworth
Other
6th - 7th Grade
Used 39+ times
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34 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The way in which a nation uses its resources to satisfy people’s needs and wants.
Economics System
Scarcity
Traditional System
Market System
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The economic problem of having unlimited human wants in a world of limited resources.
Economy
Scarcity
Human Capital
Entrepreneur
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
An economic system is which social roles and culture determine how goods are made, sold, and bought.
Traditional Economy
Market Economy
Mixed Economy
Command Economy
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
An economic system based on individual choices and voluntary trade.
Traditional Economy
Market Economy
Mixed Economy
Command Economy
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
An economic system is which the government owns some or all of the factors of production.
Traditional Economy
Market Economy
Mixed Economy
Command Economy
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
An economy that has features of more than one of the economic systems.
Traditional Economy
Market Economy
Mixed Economy
Command Economy
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Any law or practice that a government uses to limit free trade between countries
Free trade
Taxation
Trade barrier
Open borders
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