PFF Unit 1, American Families and the Economy Vocab Practice

PFF Unit 1, American Families and the Economy Vocab Practice

Assessment

Passage

Mathematics

12th Grade

Easy

CCSS
RI.9-10.4, RI.11-12.4, RI.7.4

+1

Standards-aligned

Created by

Wayground Content

Used 1+ times

FREE Resource

12 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

What is economics the study of?

The ways in which money is created and used in society

The history of ancient civilizations

The principles of physics and chemistry

The art of cooking and baking

2.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

What does the term 'economy' refer to?

The range of economic activity in a country, region, or community

The study of personal and family finance

The process of saving and investing money

The concept of budgeting and financial planning

3.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

What system determines the prices of services and goods in market economics?

Supply and demand

Government regulation

Bartering system

Monetary policy

4.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

What is the main characteristic of barter systems?

Direct exchange of goods without money

Use of money for exchange

Exchange of goods through a third party

Exchange of services instead of goods

5.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

What economic system involves no government presence in economic transactions?

Capitalism

Socialism

Communism

Laissez faire

6.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

What type of economics involves goods and services exchanged without immediate or expected return?

Barter economics

Market economics

Gift economics

Command economics

7.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

What does an economic system organize?

Goods and services

Labor and capital

Natural resources

Technology and innovation

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