Economics VOCAB

Economics VOCAB

7th Grade

20 Qs

quiz-placeholder

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Economics VOCAB

Economics VOCAB

Assessment

Quiz

Social Studies

7th Grade

Easy

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Used 45+ times

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20 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

a desire for a good or service

need

wish

want

demand

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

an economy based on customs and traditions

market economy

command economy

traditional economy

mixed economy

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

living within your means regardless of the level of those means

Financial Responsibility

Budgeting Skills

Wealth Accumulation

Debt Management

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

an economic system where the government owns resources

capitalism

socialism

feudalism

mercantilism

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

the desire for a good or service

supply

demand

wants

needs

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

resources used to produce goods and services

factors of production

economic resources

production inputs

capital goods

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

individuals who start businesses

entrepreneurs

investors

employees

consultants

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