Section 5.2 Vocabulary - The Market Economy

Quiz
•
Social Studies
•
6th Grade
•
Medium
Jennifer Hendricks
Used 16+ times
FREE Resource
14 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
the way goods and services are produced and consumed
economy
market
consumer
producer
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
someone who acquires goods and services for his or her own personal use
economy
market
consumer
producer
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
someone who makes goods or offers services to others
economy
market
consumer
producer
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
refers to the entire activity of buying and selling that places out in the world
economy
market
consumer
producer
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
financial gain received by selling something for more than it cost to make it
profit
incentive
innovation
competition
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
idea that consumers will want or need what producers are offering
profit
incentive
innovation
competition
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
producers battle over who can make the most profit
economy
incentive
innovation
competition
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