What is the definition of capital?
Economic Vocabulary review

Quiz
•
Social Studies
•
7th Grade
•
Hard
Tammie Payne
FREE Resource
12 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The total value of goods and services bought in a year
An economic system where policies are based on tradition
Anything that gives a person or business economic value
A system driven by supply and demand
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What are capital goods?
Money given to businesses by the government
Resources, like machines, used to produce other goods and services
The total amount of human skills and knowledge in a society
Farms where people grow food for their families
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which economic system is mostly controlled by the government?
Market economy
Traditional economy
Mixed economy
Command economy
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What does an economic system describe?
How a society organizes and distributes resources, services, and goods
The ability of individuals to take business risks
The total value of goods and services bought in a year
The trade relationships between countries
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is entrepreneurship?
The ability and willingness of individuals to start businesses or take risks to create new economic opportunities.
The process of farming for family and community use.
The study of different types of economies.
The development of machines for production.
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which term represents the total value of goods and services bought in a year?
Capital
GDP
Human capital
Market economy
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is human capital?
The amount of goods and services in a market economy.
The skills, knowledge, and health of the people in a society.
The way businesses use money for production.
The total number of farms in a country.
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