Econ Ch 3.1/3.2 Vocabulary

Econ Ch 3.1/3.2 Vocabulary

12th Grade

7 Qs

quiz-placeholder

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Econ Ch 3.1/3.2 Vocabulary

Econ Ch 3.1/3.2 Vocabulary

Assessment

Quiz

History, Social Studies

12th Grade

Medium

Created by

Joel Dyess

Used 3+ times

FREE Resource

7 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

An economic system based on private ownership of resources

Free Enterprise

Capitalization

Privatize

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The ability of everyone to take part in the market by free choice.

voluntary exchange

economic freedom

open opportunity

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Everyone has the same economic rights under the law

Economic Freedom

Economic Equality

Legal Equality

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

People decide which legal agreements to enter into or not.

Economic Freedom

Free Contract

Contract Freedom

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The force that encourages others to improve their material well being through economic activities.

motive profit

profit reward

profit motive

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Money left over after the cost have been subtracted from the revenue gained by selling

Profit

Profit Motive

Income

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Economic system with government involvement

Mixed Economy

Centrally Planned Economy

Modified Free Enterprise Economy