Economics Quiz

A term used for when a country bases its economy on what it can produce most efficiently is (a)   .

• Specialization
• Globalization
• Privatization
• Monopolization

Goods sold and shipped to other countries are called (a)   .

• Exports
• Imports
• Goods
• Shipments

When the value of a currency increases ​ (a)  

• Depreciation
• Inflation
• Deflation
• Appreciation

Items one can purchase like a car or a TV are (a)   .

• Goods
• Services
• Ideas
• Concepts

The people and companies that provide the goods and services are called ​ (a)  

• Consumers
• Distributors
• Retailers
• producers

A type of economy where a country relies heavily on one resource and which can become overspecialized.

• Diversified economy

• Single Resource Economy

• Plural economy

• Mixed economy

Goods bought from other countries for domestic use are called (a)   .

• Imports
• Exports
• Goods
• Products

The people that buy the goods and services are (a)   .

• Consumers
• Manufacturers
• Retailers
• Distributors

Things that one provides for another: (a)   .

• Services
• Products
• Goods
• Items

A type of economy where a country is able to produce many different goods.

• Command economy

• Mixed economy

• Diversified economy

• Market economy