Asia's Economics Vocabulary

Asia's Economics Vocabulary

7th Grade

19 Qs

quiz-placeholder

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Asia's Economics Vocabulary

Asia's Economics Vocabulary

Assessment

Quiz

History

7th Grade

Easy

Created by

Pam Huff

Used 13+ times

FREE Resource

19 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

__________ is when jobs are moved overseas to nations where work can be done at a cheaper rate.

Quota

Outsourcing

Tariff

Globalization

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is an economic system where the government answers the three economic questions related to production?

Command Economy

Market Economy

Traditional Economy

Interdependence

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the value of your currency in terms of another country's currency?

Infrastructure

Invest

Embargo

Exchange Rate

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is term is defined by when countries produce those goods and services for which they are best suited?

Investment

Entrepreneurship

Specialization

Command Economy

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Roads, bridges and railways etc. that are a part of a countries means for transporting goods, people etc. These are a part of a countries Capital resources.

Specialization

Infrastructure

Global Trade

Human Resources

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

To put money into something, hoping to gain a profit. This is what entrepreneurs do.

Market Economy

Specialization

Interdependence

Invest

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is a trade barrier that limits the amount of goods that can be produced or sold?

Quota

Embargo

Tariff

Mixed

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