SS 6th Grade Economics Practice Quiz

A government controlled system in which goods are owned by a society as a whole and not by individuals

• Communism

• Supply and Demand

• Natural Resources

• Entrepreneurship

An economic system where the government makes all of the economic decisions is a traditional economic system.

• True

• False

1. When a person starts/creates a business, innovations or ideas

• Natural Resources

• Entrepreneurship

• Human Capital

• Capital Goods

A factor of economic growth that centers around job training and education

• Capital Goods

• Entrepreneur

• Natural Resources

• Human Capital

What consumers/ people want to buy and sell determines what goods and services are produced and sold

• Traditional

• Command

• Supply and Demand

• Human Capital

An economic system based on cultural traditions passed down from generation to generation

• Traditional

• Mixed

• Market

• Command

A factor of economic growth; tools that help workers to complete a task, such as factories, machines, or technology

• Traditional

• Human Capital

• Market

• Capital Goods

Education and job training is a capital good

• False

• True

Involves government control

• Communism

• Command economic system

• Both

• NOne

Entrepreneurs create jobs

• True

• False