Economics Vocabulary

Economics Vocabulary

7th Grade

20 Qs

quiz-placeholder

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Economics Vocabulary

Economics Vocabulary

Assessment

Quiz

Social Studies

7th Grade

Hard

Created by

Wayground Content

FREE Resource

20 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Government Makes all the economic decisions

Market

Mixed

Market

Command

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

exchange (goods or services) for other goods or services without using money.

Market

exchange rate

bartering

Mixed

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The factories and machines used to make goods

Literacy rates

Human Capitol

Capital Goods

GDP

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A system in which private business makes all the decisions

Market Economy

Traditional Economy

Command Economy

Mixed Economy

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The ability ot read and write

Human Capital

Literacy Rate

Capital Goods

Opec

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Goods purchased form other countries

exports

imports

Specialization

GDP

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A limit on imported goods

Quota

Embargo

Tariff

Command

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