Economic Terms #1

Economic Terms #1

6th Grade

20 Qs

quiz-placeholder

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Economic Terms #1

Economic Terms #1

Assessment

Quiz

Social Studies

6th Grade

Practice Problem

Hard

Created by

Nicole Martin

Used 61+ times

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20 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Trade in which both partners freely agree to and benefit from the exchange of goods/services

voluntary trade

domestic

quota

wagw

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Focusing on a narrow range of products/services that can be produced most efficiently and cost-effectively

bartering

economic system

specialization

boycott

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Refusal to purchase a good/service from a specific company or country

subsistence

economic continuum

free enterprise

boycott

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Term which refers to the products of services originating in one’s own country

bartering

domestic

tariff

wage

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The act of economically punishing another nation

production quota

sanction

trade barrier

traditional economy

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Any activity which slows or outright blocks the free exchange of goods and services between nations

embargo

quota

tariff

trade barrier

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A trade barrier which blocks all trade with another nation

quota

tariff

embargo

protective

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