Economic Terms 2
Quiz
•
Social Studies
•
7th Grade
•
Easy
Tiffany Adkins
Used 13+ times
FREE Resource
12 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
buyer and/or user of goods and services (everyone is a consumer)
scarcity
When supply is up, and demand is down, prices
consumer
barter
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
maker and/or seller of goods and services
producer
currency
traditional economy
command economy
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
An economy in which production is based on customs and traditions and economic roles are typically passed down from one generation to the next.
traditional economy
producer
currency
market economy
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
An economic system in which the government controls a country's economy.
mixed economy
traditional economy
market economy
command economy
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Economic decisions are made by individuals or the open market.
market economy
traditional economy
When supply is up, and demand is down, prices
command economy
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Blend of command and market systems
traditional economy
mixed economy
consumer
producer
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Exchange goods without involving money.
textiles
currency
barter
traditional economy
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