Grade 9 Chapter 6 Vocab Quiz

A point along the economic continuum where there is little to no government involvement in the economy of the country?

• Command Economy

• Mixed Economy

• Market Economy

• Fixed Economy

The point where supply, demand, and price are balanced?

• Economic Continuum

• State of Equilibrium

• Mixed Economy

• Healthy Competition

In economics, the part of the economy owned and controlled by businesses and individuals.

• Privately Owned

• Competition

• Publicly Owned

• Collective Bargaining

Those who use products and services

• Producers

• Exporters

• Consumers

• Importers

A point along the economic continuum where both governments and individuals own and produce resources and services.

• Command Economy

• Market

  Economy

• Planned Economy

• Mixed Economy

What is best for society as a whole?

• Competition

• Public Good

• Privatization

• Monopoly

An organization of workers that acts to protect workers' rights and interests?

• Crown Corporations

• Labour Union

• Collective Bargaining

• Strike

The opposite of Competition; happens when one producer controls all supply of a product or service.

• Publicly Owned

• Command Economy

• Privately Owned

• Monopoly

The wants and needs of consumers for products and services?

• Supply

• Product

• Demand

• Equilibrium

A shift on the Economic Continuum towards more government involvement in the economy.

• Shift Left

• Shift Right

• Shift Up

• Shift Down