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WorksheetsEconomics Review
Total questions: 24
Worksheet time: 12mins
What are productive resources?
a resource that is productive
the time, talent, and skills of a person who helps produce goods and services
resources used to make goods and services
People and businesses who use resources to make goods and services
producers
consumers
resources
People who buy or use goods and services to satisfy their personal needs and wants
consumers
producers
resources
A good that is used to produce many other goods and services
capital resource
human resource
natural resource
An example of a natural resource is...
police officer
fire truck
water
pencil
What is the study of the way goods and services are made and used?
market
geography
economics
An economic system where the government tells people what jobs they will have and what prices they will pay is called a...
Command Economy
Market Economy
Barter Economy
What is the name for the owner of the business who takes risks to hopefully earn profit.
Laborer
Entrepreneur
Broker
Goods being shipped OUT of the country for manufacturing or sale.
Export
Import
What Is the percentage of people who can read and write called?
Life Expectancy
Literacy Rate
GDP
What is GDP?
Gross Development Project
Gross Domestic Product
Great Developed Population
Great Developed Project
What is it called when people in one country buy products and goods that are made in another country?
Exporting
importing
Incoming goods
The total value of goods and services produced in a year in a nation divided by the total population is called_____________.
GDP
GDP per capita
political indicators
development level
A tariff is
a specific number of imports allowed.
a cash grant or loan from the government to support the business.
an official ban on trade.
a tax on imports.
An embargo is
a tax on imports.
a cash grant or loan from the government to support the business.
an official ban on trade.
a specific number of imports allowed.
A quota is
an official ban on trade.
a limit on or a specific number of imports allowed.
a law that promotes safety.
a tax on imports.
Specialization is
dependence on others to get products you do not produce and needing to purchase items from them.
items purchased from other countries.
items sold to other countries.
producing specific goods and less goods faster, cheaper and better than others can.
