Economics Vocabulary
Quiz
•
Social Studies, Geography, History
•
6th - 8th Grade
•
Medium
Phillip Perry
Used 266+ times
FREE Resource
15 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
In this economic system, decisions are made by private citizens with no government regulation
Command
Market
Traditional
Mixed
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Someone who is willing to take a risk to begin a new business
Entrepreneur
Human Capitol
Trade Barriers
Capital Goods
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Factories, machinery, and technology available in a country
Specialization
GDP (Gross Domestic Product)
Natural Resources
Capital Goods
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Producing those goods a country can make most easily so they can trade them for goods made by others that cannot be produced locally
Tariff
Specialization
Literacy Rate
Mixed Economy
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A ban on trading with a particular country for economic or political reasons
Tariff
Quota
Embargo
Specialization
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A limit on the amount of imported goods
Tariff
Quota
Embargo
Specialization
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The ability of the people over the age of 15 to read and write
Capital Goods
Entrepreneur
Human Capitol
Literacy Rate
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