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Unit 2: Economic Systems

Authored by ELLIE W

Social Studies

9th Grade

Used 2+ times

Unit 2: Economic Systems
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21 questions

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1.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

What is a Producer

A Producer is a person or entity responsible for the overall management of a project.
A Producer is a person who only handles finances for a project.
A Producer is a type of software used for video editing.
A Producer is a term used in agriculture to describe a type of crop.

2.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

What is a Distributor?

A Distributor is a person who manufactures products and sells them directly to consumers.
A Distributor is a person who only buys products from retailers and resells them to consumers.
A Distributor is a person or entity that buys products from manufacturers and sells them to retailers or consumers.
A Distributor is a person who provides services to manufacturers but does not involve in selling products.

3.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

What is a Consumer?

A software program used for data analysis
A government agency that regulates businesses
A type of financial institution
An individual or entity that purchases goods or services for personal use or consumption.

4.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

What is Labor

Labor is a type of currency
Labor is a type of insect
Labor is the physical or mental effort exerted to produce goods or services.
Labor is a type of food

5.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

What are Resources?

Resources are liabilities that hinder progress
Resources are only physical objects
Resources are assets or materials that can be used to achieve a goal or fulfill a need.
Resources are intangible concepts

6.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

What is Capital?

Capital is financial assets used for making the products

Capital is a type of money

Capital is a product revenue

Capital is a money currency

7.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

What is Laiseez Faire?

Strict regulations on economic activities

Term of government affairs

The less the government is involved in the economy, the better off businesses will be, and by extension, society as a whole

The more government is involved in the economy, the better off businesses will be, and by extension, society as a whole

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