
Economics of SW Asia Vocabulary
Authored by Carl Winter
Social Studies
6th - 7th Grade
Used 56+ times

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20 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following is NOT a basic economic question?
What to produce?
How to produce it?
When to produce it?
For whom to produce it for?
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
To make a living based on what their ancestors have done
Traditional economy
Command economy
Market economy
Mixed economy
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A central authority, usually a government, decides the answers to the basic questions of economics.
Traditional economy
Command economy
Market economy
Mixed economy
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Private citizens are allowed to open businesses for themselves and free to make decisions on the three questions for themselves.
Traditional economy
Command economy
Market economy
Mixed economy
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
People are allowed to own private businesses, but government regulates businesses and industries sometimes a lot, sometimes a little.
Traditional
Command
Market
Mixed
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Someone who begins and finances a new business or industry, e.g. Mark Zuckerburg and Facebook
Entrepreneur
Service Industry
Diversification
Specialization
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Providing a service rather than a product to sell
Entrepreneur
Service Industry
Diversification
Specialization
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