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Gross Domestic Product
is a measure of the total value of all.....

• Consumer income in an economy over a period of time
• Capital accumulation in an economy over a period of time.
• Sales in an economy over a period of time.
• The goods and services produced in an economy over a period of time

In a command economy, who holds power over the economy?

• The people
• The government 
• Beyonce
• The traditions of your ancesetors 

Nigeria specializes in _____.

• Oil
• Diamonds
• Gold
• Technology

Which of the following is an economic system in which economic decisions are made according to social roles & culture?

• Market economy
• Command economy
• Traditional economy
• Mixed economy

Which economy is dictated by supply and demand and the buyers and sellers?

• Market
• Socilaism 
• Mixed 
• Command 

A person who comes up with a product or service, and finds the money and time to produce this new product.

• Entrepreneur
• Incentive
• Specialization
• Barter

The amount of a good that is available.

• supply
• demand
• scarcity
• opportunity cost

Capital goods are 

• all the training workers undergo to be better at their jobs
• all of the factories, machines, technologies, buildings, and property needed by businesses to operate
• all the items that are grown and developed by nature
• people who invest money to start a business. 

Natural resources are 

• all the training workers undergo to be better at their jobs
• all of the factories, machines, technologies, buildings, and property needed by businesses to operate
• all the items that are grown and developed by nature
• people who invest money to start a business. 

How do countries benefit from having natural resources? 

• Countries that have a lot of natural resources are able to use them to produce goods & services at a lower price than those who do not
• Countries that have a lot of natural resources are not capable of selling these items to other countries.
• Countries that have a lot of natural resources are generally poor and do not do well economically. 
• Countries get rid of all of their natural resources to create arable land.