Econ Ch. 3 Vocab

Econ Ch. 3 Vocab

12th Grade

25 Qs

quiz-placeholder

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Econ Ch. 3 Vocab

Econ Ch. 3 Vocab

Assessment

Quiz

Social Studies

12th Grade

Easy

Created by

Brendan Davila

Used 150+ times

FREE Resource

25 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

the force that encourages people and organizations to improve their material well-being

Profit Motive

Open Opportunity

Private Property Rights

Free Contract

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

the concept that everyone can compete in the marketplace

Profit Motive

Open Opportunity

Competition

Free Contract

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

the concept that people have the right and privilege to control their own possessions as they wish

Profit Motive

Private Property Rights

Competition

Free Contract

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

allows people to decide what agreements they want to enter into

Voluntary Exchange

Private Property Rights

Competition

Free Contract

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

allows people to decide what and when they want to buy/sell, rather than forcing them to buy/sell at particular times/ specific prices

Voluntary Exchange

Private Property Rights

Competition

Free Contract

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

the rivalry among sellers to attract customers while lowering costs

Profit Motive

Open Opportunity

Competition

Free Contract

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

a private organization that tries to persuade public officials to act or vote according to the interests of the group’s members

Profit Motive

Open Opportunity

Interest Group

Free Contract

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