Economy 6th grade

A (n)____________is something you would like to have

• need

• want

• surplus

• import

Because we can buy private property, we are willing to

• compete for jobs

• spend money

• Work to make money

• shop for better prices

Clearing price means

• marked down price due to lack of interest

• the price of a good to break even on production

• the profit a business will make on a good

• the price at which all of a produce will be sold

Why is Scraity a problem? (question by Lucy C)

• land, labor and capital

• Someone jumping out and scaring you

• something made by people

• because you do not have all the goods and services you would like to have

____________ and ______________ work together for the economy.

• profit and competition

• money and greed

• profit and loss

• money and loss

What are the 4 basic economies? (question by Olivia L.)

• Market, Command,Mixed, Traditional

• Market, Stock, Command, Mixed

• Traditional, Stock, Market, Scarcity

• Command, Traditonal, Stock, Scaricty

A law that cuts off trade with another country is ? Question by Lucy C

• import quota

• trade restrictions

• tariff

• embargo

___________ wrote the WEALTH OF THE NATIONS. (question by Wyatt E)

• Elon Musk

• Sam Smith

• Sam Adams

• Adam Smith

What kind of economy do most countries have today? (question by Juneo B.)

• Market

• Mixed

• Command

• Stock

What happens when people have the freedom to buy and sell at any price? ( Question by Landon E.)

• Freedom of Exchange

• Stock Market

• Anarchy

• monopoly