Economic Terms
Social Studies
6th Grade
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13 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Who is a person who takes a risk to start a business?
Consumer
Entrepreneur
Labor
Capital
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
An undeveloped economy in which customs and habits from the past determine how decisions will be made; may be found in rural areas with high levels of subsistence farming and rely on barter rather than currency
Market
Command
Traditional
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Most decisions of production and distribution are made by individuals and firms.
Market
Command
Traditional
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Government officials make most of the decisions regarding production and distribution of goods and services.
Market
Command
Traditional
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The market value of all final goods and services produced in a country in a calendar year.
Labor
Market
Gross Domestic Product
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Business (ran by private citizens) determine what goods/services are produced and how they will be made.
Market
Command
Traditional
Mixed
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Businesses make economic decisions, but the government regulates them to make sure they’re safe/fair.
Market
Command
Traditional
Mixed
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