WorksheetsEconomics Chapter 2 Section 1 Review
Total questions: 6
Worksheet time: 12mins
Name
Class
Date
1.
The system a society uses to make and share things people need or want, like food and services.
a)
Economic System
b)
Profit
c)
Safety net
2.
The money a business makes after subtracting its costs. It's what’s left over after paying for expenses.
a)
Economic System
b)
Profit
c)
Safety net
3.
Programs or services that provide help to people in need, ensuring they have basic support during tough times, like unemployment or illness.
a)
Economic System
b)
Profit
c)
Safety net
4.
The level of economic prosperity
a)
Standard of living
b)
Innovation
c)
Traditional Economy
5.
The process of creating new ideas, products, or methods that improve something or make it better.
a)
Standard of living
b)
Innovation
c)
Traditional Economy
6.
An economic system where people make and trade goods based on customs and traditions, often relying on farming, hunting, and gathering.
a)
Standard of living
b)
Innovation
c)
Traditional Economy
100 %
