Economics Concepts Review
Authored by Roderick Manabat
Social Studies
6th Grade
Used 58+ times
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23 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
An economic system characterized by private (citizen) ownership of businesses and property.
Free enterprise (capitalist)
Socialist
Command / Communist economy
Traditional economy
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
An economic system of shared ownership of resources which provide a more equal distribution of goods and services.
Free enterprise / Capitalist economy
Socialist
Communist / Command economy
Traditional Economy
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A system based on the culture and traditions of the past.
Free Enterprise / Capitalist economy
Communist / Command economy
Socialist economy
Traditional economy
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
An economic system of shared ownership of resources which provide a more equal distribution of goods and services.
Free Enterprise / Capitalist economy
Socialist economy
Communist / Command economy
Traditional economy
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A factor of production that includes people with new, innovative ideas who start businesses
Land
Labor
Capital
Entrepreneurs
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A factor of production that includes workers and their efforts and abilities.
Land
Labor
Capital
Entrepreneurs
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The factor of production that includes
the tools, buildings, equipment and factories used in productions
Land
Labor
Capital
Entrepreneurs
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