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Economics Review 1

Authored by Marquita Corbett

Social Studies

6th - 12th Grade

14 Questions

Used 31+ times

Economics Review 1
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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

– focusing on a narrow range of products/services that can be produced most efficiently and cost-effectively

Trade

Specialization

domestic

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

both partners freely agree to and benefit from the exchange of goods/services

Specialization

Barter

Voluntary Trade

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

a nation’s money

Currency

Money

Peso

dolaar

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

converting one nation’s money into an equivalent value/quantity of another’s

Converter

Currency Exchange

Exchange Rate

Barter

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

the approximate value of one nation’s currency in terms of another’s

Currency Exchange

Exchange Rate

Convert

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

the level of wealth and material comfort available to a people

Capital Good

Human Capital

Standard of Living

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

able to read and write in one’s native language

illiterate

literate

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Google

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Microsoft

Microsoft

Apple

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