
Economics Terms Quiz
Authored by Sharon Yang
English
12th Grade
CCSS covered
Used 3+ times

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25 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Type of economy made up of consumers and producers freely trading; also called free market
Communism
Capital
Capitalism
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
One of the many choices or courses of action that might be taken in a given situation
Capitalism
Capital
Communism
Bourgeoisie
Alternative
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Risk taker who starts a new business; the one who combines the other three factors of production
Bourgeoisie
Capitalism
Entrepreneur
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Natural resources, such as minerals, used to make goods; one of the factors of production
Labor
Capital
Capitalism
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The study of how people make choices when supplies are limited
Bourgeoisie
Capitalism
Capital
Alternative
Economics
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Type of economy where the government owns all factors of production, there is no private property or choice
Communism
Capitalism
Bourgeoisie
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A person who uses a good or service; the people who decide to buy things
Consumer
Alternative
Capitalism
Bourgeoisie
Capital
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