Economics Unit Test
Quiz
•
Geography
•
6th - 7th Grade
•
Medium
Used 9+ times
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27 questions
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1.
MULTIPLE CHOICE QUESTION
2 mins • 1 pt
The act of trading in one’s country’s money for another country’s money.
scarcity
natural resources
currency exchange
specialization
2.
MULTIPLE CHOICE QUESTION
2 mins • 1 pt
This measurement tells the total value of the goods and services that a country produces each year
traditional economy
Gross Domestic Product (GDP)
mixed economy
quotas
3.
MULTIPLE CHOICE QUESTION
2 mins • 1 pt
An economic system in which social roles and cultural determine how goods and services are made, sold, and bought
Traditional Economy
Command Economy
Market Economy
Mixed Economy
4.
MULTIPLE CHOICE QUESTION
2 mins • 1 pt
Raw materials that are used to support life and make goods
Capital Resources
Human Resources
Entrepreneur
Natural Resources
5.
MULTIPLE CHOICE QUESTION
2 mins • 1 pt
A type of trade barrier in which a government places restrictions on the quantity of goods coming into a country
tariff
quota
embargo
subsidy
6.
MULTIPLE CHOICE QUESTION
2 mins • 1 pt
An act of concentrating on a limited number of good or activities so your country does it well
specialization
scarcity
capital resources
human resources
7.
MULTIPLE CHOICE QUESTION
2 mins • 1 pt
An economic system that has features of either traditional, command and market systems
market economy
command economy
traditional economy
mixed economy
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