Econ Ch 3.1/3.2 Vocabulary
Authored by Joel Dyess
History, Social Studies
12th Grade
Used 3+ times
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7 questions
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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
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