
Economics Study
Authored by Chris Brown
Geography
6th Grade
Used 1+ times

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13 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A system where people buy and sell goods and services freely, and prices are decided by what people are willing to pay.
Market Economy
Traditional Economy
Command Economy
Interdependence
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A system where people make and trade things based on customs and traditions, often passing skills and jobs from one generation to the next.
Market Economy
Traditional Economy
Command Economy
Interdependence
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A system where the government makes all the decisions about what goods and services are produced, how much they cost, and who gets them.
Market Economy
Traditional Economy
Command Economy
Interdependence
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Interdependence
When the economies of different nations rely on each other
Things that encourage the purchase of specific products.
Things that discourage you from purchasing specific products
A penalty or punishment for purchasing goods or services.
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Something that motivates people to do something by offering a reward or benefit, like money or discounts.
Incentive
Tariff
Sanction
Market Economy
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Sanction
A penalty or punishment, often used by other countries to stop trade of specific goods.
A tax that a government puts on goods coming in from other nations
Agreements between nations to trade
Money or assistance provided by the government to support certain industries or activities.
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Limits set by a government on the amount of goods produced or traded.
Quota
Subsidy
Treaty
Tariff
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