"These are machines, factories, and tools used to make other goods."
Economics Terms Quiz | 24-25

Quiz
•
Social Studies
•
7th Grade
•
Hard
Chaelee Alas
FREE Resource
22 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
capital goods
consumer goods
natural resources
labor
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A(n) _____ is a ban on trading with specific countries.
embargo
tariff
quota
subsidy
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
"The skills and talents of workers in a country"
human capital
natural resources
financial capital
technological capital
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Saudi Arabia wants to keep oil prices high, so they meet with other oil-producing countries to agree on limiting oil production. What type of organization are they forming?
Trade Union
Cartel
Consortium
Alliance
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
In North Korea, the government decides what goods will be produced, how much they will cost, and who can buy them. What type of economy does North Korea have?
Market economy
Mixed economy
Command economy
Traditional economy
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Maria buys a new phone, some groceries, and pays for a haircut. Which economic role is Maria playing in these transactions?
Producer
Consumer
Investor
Supplier
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Sarah has noticed that there's no good coffee shop near her office, so she takes out a loan to open one. What economic activity is Sarah engaging in?
Investment
Entrepreneurship
Consumption
Saving
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