
Cockrill Unit 4 - Economy Vocabulary / Study Guide
Quiz
•
Geography
•
6th Grade
•
Practice Problem
•
Easy
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18 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the definition of Agriculture?
An industry that takes raw materials from the earth and makes them into products (farming)
A process of manufacturing electronic devices
A system for distributing goods to consumers
A method of producing energy from fossil fuels
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is Free Enterprise (Capitalism)?
Economy driven by profit and competition (businesses and individuals compete for profit with minimum government interference)
Economy controlled entirely by the government with no private ownership
Economy based on communal sharing and equal distribution of resources
Economy where all businesses are owned by the state and profits are distributed equally
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What are Factors of Production?
The way resources are gathered in order to produce goods and services
A type of government policy
A method of transportation
A form of entertainment
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is Industrialization?
The development of industries using machine production of goods
A process of increasing agricultural output using manual labor
The decline of cities and growth of rural areas
The study of ancient civilizations
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is Gross Domestic Product (GDP)?
The total goods and services produced in a country
The total imports and exports of a country
The total population of a country
The total amount of money in circulation
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Fill in the blank: __________ is the way a society makes, buys, and sells their goods and services.
Economy
Culture
Geography
Government
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Fill in the blank: __________ is the amount of something producers have available to sell.
Supply
Demand
Price
Revenue
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