Quiz #2

Quiz #2

20 Qs

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Quiz #2

Quiz #2

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Created by

Catherine Lievsay

Used 10+ times

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20 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

Choose the correct definition of capital goods

the money used to produce goods and services
the people used to make goods or services
the factories, machines, technology used to make goods or services

2.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

Read the definition. Then choose the vocabulary term defined. "The way in which a country produces and distributes goods, services, and resources."

entrepreneurship
exchange rate
economic system - the plan a country chooses

3.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

Choose the correct word or phrase to complete the definition. Vocabulary Term: Command Economy Definition: an economic system based on ____________ control and regulations.

limited
government
citizen

4.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

Choose the correct word or phrase to complete the definition. Vocabulary Term: Embargo Definition: _______________________ on trade with a specific nation or group of nations.

an agreement
a dollar limit
a ban

5.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

Choose the correct definition of literacy rate.

the percentage of adults who live in an area
the percentage of adults who can read and write
the percentage of adults who finish high school

6.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

Read the definition. Then choose the vocabulary term defined. "The lack of resources to produce all the goods and services that are needed or wanted."

unlimited
scarcity
trade -off

7.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

Choose the correct definition of exchange rate.

the ratio used to determine how much of one currency can be exchanged for an equal value of another currency
the ratio used to determine how many goods and services can be imported
the ratio used to determine how many goods and services can be exported

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