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Economics Vocabulary

Authored by Billye Young

Social Studies

7th Grade

Used 68+ times

Economics Vocabulary
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12 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Economic system based on supply and demand

Market

Command

Traditional

Mixed

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Trade barrier that taxes imported goods

Tariffs

Quotas

Embargo

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A ban on trade from a country for political reasons

Tariffs

Quota

Embargo

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Education and Job Training

Natural Resource

Human Capital

Capital Goods

Entrepreneur

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

True or False: A person who starts a business is a natural resource

True

False

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A limit on the amount of imported goods from another country

Tariff

Quota

Embargo

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

When a country produces specific good or service at a lower cost

Taxes

Embargo

Quota

Specialization

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