7th Economics Unit Key Terms 2018

7th Economics Unit Key Terms 2018

6th - 9th Grade

25 Qs

quiz-placeholder

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7th Economics Unit Key Terms 2018

7th Economics Unit Key Terms 2018

Assessment

Quiz

Social Studies

6th - 9th Grade

Hard

Created by

Julie Dwyer

Used 20+ times

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25 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following would be most helpful to improving a country's standard of living?

decreasing the literacy rate

increasing the literacy

reducing the number of factories

creating more low-paying jobs

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Who owns the resources in a command economy?

the government

no one

individuals

private business

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The economic system of communist countries and dictatorships is closely related to which of the following?

Command economy

Market economy

Traditional economy

Mixed economy

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is NOT one of the basic questions that all economic systems must answer?

what to produce?

how to produce?

how much to produce?

for whom to produce?

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Why is it important for a country to invest in human capital?

A country needs money in order to pay its workers

Workers enjoy getting extra training and job opportunities

Businesses cannot do all the training needed by the workers to be successful

A country's economy is more successful when workers have good education and healthcare

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A market economy is very different from a command economic system. Which of the following is found in a market economy?

unpaid labor (workers)

competition between business

government control of industry

government control of agriculture

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

This is an economic system where people follow the occupation of their ancestors.

command

market

mixed

traditional

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