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WorksheetsTopic 6 Quiz "Economics"
Total questions: 15
Worksheet time: 10mins
Which type of economy has private ownership and these owners compete for what they produce or sell.
Traditional
Command
Market
A limited resource to satisfy unlimited needs best defines which vocabulary word.
Natural Resources
Scarcity
Export
Import
Farming that only provides the basic needs of a family.
Subsistence
Standard of Living
Commercial
In the United States, we have a (a) economy.
Please select 2 Nonrenewable Resources below.
Please select 2 Renewable Resources from below.
Obtaining goods or services from an outside supplier is the definition of what vocabulary word listed below?
Free Trade
Export
Outsourcing
Match the following types of economies
free market
The US during the industrial revolution
command
North Korea
traditional
a tribal group in Africa
mixed
The US Economy
The level at which a person, a group, or a country lives as measured by the extent to which it meets its needs.
Traditional Economy
Gross National Product
Standard of Living
The idea that a country works to create a condition where all natural resources are available to meet the needs of society.
sustainability
subsistence
outsourcing
Which of the following countries export more than they import?
United States
United Kingdom
China
Germany
Which of the following countries must import more than they export?
United States
United Kingdom
China
Germany
Bringing a product into one country from another is called exporting.
True
False
If a country's main source of income is in Agriculture, then it typically has this type of economy.
Market
Command
Traditional
Mixed
Total dollar value of all of the goods and services provided by a country in a single year is called?
Sustainability
Gross Domestic Product(GDP)
Imports
Central Business District.
