Economics Vocabulary

Economics Vocabulary

6th Grade

20 Qs

quiz-placeholder

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Economics Vocabulary

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Assessment

Quiz

History

6th Grade

Medium

Created by

Kimberly Savely

Used 5K+ times

FREE Resource

20 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

An economy based on private ownership of business and consumers freely choose goods and services.

Capitalism

Communism

Traditional

Mixed

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Human-made materials used to produce goods and services.

capital

land

labor

entrepreneur

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

An economy where the government controls the factors of production resources.

command

market

capitalism

mixed

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

buys and uses goods and services

consumer

producer

entrepreneur

labor

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The number of consumers who want and able to buy a good or service.

demand

supply

opportunity cost

entrepreneur

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

how resources are used to meet peoples wants and needs

economics

demand

supply

entrepreneur

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

a person who has the ideas and skills to start a business

entrepreneur

laborer

manager

consumer

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