What are capital goods?

Economics Quiz

Quiz
•
Social Studies
•
7th Grade
•
Medium
Kaitlyn Miller
Used 2+ times
FREE Resource
20 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Goods sold directly to consumers
Physical goods used to produce other goods and services
Money used to start a business
Services provided by businesses
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is a cartel?
A type of government tax on goods
A group of producers that control supply and prices in a market
A law that limits production in industries
A government program that regulates trade
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is an embargo?
A tax on imported goods
A government order that restricts trade with a specific country
A limit on how much of a product can be imported
A group of businesses that set prices together
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is entrepreneurship?
The study of international trade
The ability to take risks to create and run a business
A system where businesses are owned by the government
The process of selling goods to foreign markets
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
In a command economy, who makes the economic decisions?
Consumers and businesses
The government
Individual entrepreneurs
A group of private corporations
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
GDP (Gross Domestic Product) measures:
The number of people living in a country
The total value of all goods and services produced in a country within a year
The total amount of money spent by consumers
The total imports and exports of a country
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What does it mean to specialize in an economy?
To limit production to a small amount of goods
To focus on producing a specific type of good or service efficiently
To stop trading with other countries
To increase taxes on imported goods
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