7 SS - Human Geography Economics Quiz

measurement that seeks to capture a country's economic output; healthy economies grow most years

• Currency

• Gross Domestic Product (GDP)

• Labor Force

• Unemployment Rate

number of people who are employed plus the unemployed who are looking for work

• Deficit

• Exchange Rate

• Labor Force

• Unemployment Rate

when a government, company, or individual has more revenue than expenses

• deficit

• surplus

• currency

• budget

list of revenues and expenses; balanced if revenues are greater than expenses

• Budget

• Currency

• Capitalism

• Monopoly

Match the following

• movement of goods or service into a country from a place outside the country

• Exchange Rate

• rate at which one currency will be exchanged for another currency

• Import

• system of exchange, usually overseen by a government

• Export

• movement of goods or services to a place outside the country

• Unemployment Rate

• percentage of labor force that is unemployed but actively seeking employment and willing to work

• Currency

Match the following

• economic system in which private individuals and companies own property and seek profit

• Deficit

• total amount of a specific good or service that is available to consumers

• Demand

• consumer's desire to purchase goods/services and pay a price for the product

• Supply

• when a company, government, or individual has less revenue than expenses

• Capitalism

• individual, company, or group controls most of a particular service, product, or sector

• Monopoly