Civics Module 6 Lesson 1 Vocabulary Review

The study of how people and countries obtain their needs and wants with limited resources is called ____.

• Economics

• Civics

• Command

• Capital

What is the method used by a country to determine how best to influence trade and production of goods and services to meet the wants and needs of its people?

• Free Enterprise System

• Economic System

• Fiscal Policy

• Communism

The idea that says the market should be left alone and the government should be hands-off is called ________.

• Economic Systems

• Gross Domestic Product

• Laissez-faire economics

• Capital

The people are free to start a business and run it on their own with little government interference in a ___________.

• Communist Country

• Command Economy

• Fiscal Policy

• Free Enterprise System

Resources and raw materials needed to produce the goods and services of a country are called ___________.

• Capital

• Fiscal Policy

• Economic Systems

• Gross Domestic Product

The people or businesses own the capital privately and make money off of the goods and services they produce in __________.

• Communism

• Capitalism

• Socialism

• Hogwarts

In which economy does the government owns most of the capital, goods, and services and the people have little to no say over the economy?

• Command

• Traditional

• Mixed

• Market

In which economic system does the type of job a person does get passed down by tradition or custom?

• Traditional

• Command

• Mixed

• Market

In which economic system is there no government involvement in this economy and people trade goods and services on their own?

• Traditional

• Command

• Mixed

• Market

In which economic system are most goods and services are traded privately by the people, but there is some government involvement in the economy?

• Traditional

• Command

• Mixed

• Market