Latin America Economics Vocab
Authored by Rebecca Harris
Geography
5th Grade
Used 161+ times
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10 questions
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1.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
An economic system where the government determines how goods are made, sold, and bought.
Market Economy
Traditional Economy
Command Economy
Mixed Economy
2.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
people who buy goods and services in an economy
Currency
Capital
Consumer
Producer
3.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
Money that is used as a means of exchange
Capital
Currency
Consumer
Command Economy
4.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
A trade barrier in which nations refuse to trade with other nations....
Embargo
Currency
Capital
Consumer
5.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
A person or people who take risks to bring resources and know-how together to produce goods and services for a profit...
Consumer
Entrepreneur
Tariff
Embargo
6.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
An economic system based on private ownership where individual buyers and sellers answer the basic economic questions.
Market Economy
Mixed Economy
Traditional Economy
Command Economy
7.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
A description of economies that have some combination of a pure command economy and a pure market economy
Market Economy
Mixed Economy
Traditional Economy
Command Economy
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