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WorksheetsReview Economics
Total questions: 15
Worksheet time: 8mins
Which of the following describes an entrepreneur?
A person who is hired to work in a factory.
A person who organizes, operates, and assumes the risk for a business venture.
A person who organizes loans the money to a new business just getting started.
A person who invests in businesses to make money.
Which of the following is provided by banks?
park maintenance
transportation system
checking accounts
national defense
What is the study of the way goods and services are made and used?
market
geography
economics
Where buyers and sellers exchange goods and services.
government
economics
market
People who produce goods and services.
producer
consumer
market
A good that is used to produce many other goods and services
capital resource
human resource
natural resource
a resource from nature that can be used to produce goods and services or to meet people's needs
capital resource
human resource
natural resource
the time, talents, and skills of a person who helps produce goods and services
capital resource
human resource
natural resource
If the government subsidizes part of your income and you are able to get food stamps and fly on the National airlines. But you are still able to open a business what kind of Economic system do you live in?
Mixed economy
Free market economy
Command Economy
Traditional economy
What level of economic activity is the lady in the green (the one on the right)?
Secondary
Primary
Quaternary
Tertiary
Which economic system uses bartering?
Free Market
Command
Mixed
Traditional
What are the Factors of Production?
land, money, manufacturing, and workers
labor, capital, supply, and demand
land, labor, capital, and entrepreneurship
entrepreneurship, innovation, natural resources, and money
When something is used it, it is _____.
services
consumed
entrepreneur
labor
The fact that we do not have unlimited quantities of resources is good example of what term?
Scarcity
Economics
Distribution
Consumption
The global leading producers of oranges include China, Brazil, Mexico, and Florida. Which factors of production are not most affected by a drought in any of these countries?
Select all that apply.
Land
Labor
Capital
Entrepreneurship
