PRINMBF - Ch 2 Vocabulary
Authored by Jorge Garza
Business
8th - 12th Grade
Used 12+ times
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13 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
All activities involved in developing and exchanging products
Business
Capitalism
Competition
Traditional Economy
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
An economic system where the economic resources are privately owned by individuals rather than the government
Business
Capitalism
Competition
Traditional Economy
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Actions taken by two or more businesses attempting to attract the same customers
Business
Capitalism
Competition
Traditional Economy
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Economy in which economic decisions are based on a society’s values, cultures, and customs
Business
Capitalism
Competition
Traditional Economy
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
An economy in which the government makes all the economic decisions for its citizens
Command Economy
Economic System
Market Economy
Marketplace
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Organized way in which a nation chooses to use its resources to create goods and services
Command Economy
Economic System
Market Economy
Marketplace
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
An economy in which individuals are free to make their own economic decisions (also known as free enterprise)
Command Economy
Economic System
Market Economy
Marketplace
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