Economics Review 7th Grade

Things that were not made by humans and are found in nature

• natural resources
• human resources
• capital resources
• services

What is the person who comes up with an idea for a good or service?

• A Creator
• Good
• Smart
• Entrepenuer

Things used to produce a good or service that are not man-made

• Items
• Things
• Goods
• Natural Resources

In the economy of the Bushmen of the Kalahari Desert the people follow the examples of their ancestors.  This is what kind of economy? 

• Traditional 
• Market 
• Command 
• Centrally planned 

The Country of North Korea has a dictator that makes all of the economic decisions. What type of economy is this?

• Traditional 
• Market 
• Command 
• Centrally Planned 

The government controls the factors of production in which type of economic system

• Command
• Mixed
• Market
• Traditional

A rural family who has been farming for generations and generally uses only what it produces without much outside help best represents which type of economic system

• Traditional
• Command
• Capitalist
• Mixed

What type of economic system allows private businesses to decide what to produce, how to produce and for whom to produce?

• Market
• Mixed
• Command
• Traditional

What type of economic system allows the government to decide what to produce, how to produce and for whom to produce?

• Market
• Mixed
• Command
• Traditional

What type of economic system is based on customs and beliefs?

• Market
• Mixed
• Traditional
• command