Unit 2: Economics Vocabulary

Unit 2: Economics Vocabulary

6th - 8th Grade

16 Qs

quiz-placeholder

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Unit 2: Economics Vocabulary

Unit 2: Economics Vocabulary

Assessment

Quiz

Education, Social Studies

6th - 8th Grade

Easy

Created by

Derek Mcvey

Used 143+ times

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16 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

10 sec • 5 pts

Produce those goods that a country can make most easily, so they can trade them for goods that cannot be produced locally.

Specialization

Organization

Economics

Human Capital

2.

MULTIPLE CHOICE QUESTION

10 sec • 5 pts

A tax on imported goods

Tariff

Quota

Embargo

Economics

3.

MULTIPLE CHOICE QUESTION

10 sec • 5 pts

A limit on the amount of goods that can be imported into the country is called?

Tariff

Quota

Embargo

Economics

4.

MULTIPLE CHOICE QUESTION

10 sec • 5 pts

A ban on trade with another country for economic or political reasons is known as?

Tariff

Quota

Embargo

Economics

5.

MULTIPLE CHOICE QUESTION

10 sec • 5 pts

The sum of all goods and services produced in a country in one year is called?

Gross Domestic Product (GDP)

Human Capital

Capital Goods

Natural Resources

6.

MULTIPLE CHOICE QUESTION

10 sec • 5 pts

Education, skills, and training that people (workers) possess.

Human Capital

Capital Goods

Natural Resources

Entrepreneurship

7.

MULTIPLE CHOICE QUESTION

10 sec • 5 pts

Factories, machinery, tools, and technology available to a country are known as?

Human Capital

Capital Goods

Natural Resources

Entrepreneurship

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