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Economy 6th grade Flashcards | StudBud

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What is the purpose of (NAFTA) between the United States, Canada, and Mexico?

Which of the following is found in a market economy?

Economy 6th grade

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Short 6th grade economic systems test

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Questions 7

Answers

1
Which of the following is found in a market economy?
D) government control of agriculture
B) guaranteed yearly pay raises
C) government control of industry
A) competition
2
What is the purpose of (NAFTA) between the United States, Canada, and Mexico?
countries will produce what they need themselves
to keep the countries from trading with Europe or Asia
did away with tariffs.
get goods without having to pay for them
3
Which economic system are the production of goods owned by private individuals ?
market
traditional
command
feudalism
4
When a country has a market economy, which of these statements correctly defines this system?
basic goods are provided
Workers are guaranteed a pay raise.
consumers decide whether to buy the goods.
the government controls the business
5
Canada and Mexico are SIMILAR in that lowering trade barriers between these two nations.
decreases in the quality of consumer goods.
increases in the prices of consumer goods
growth in their economies.
B) increases in unemployment.
6
What word has the same meaning as tariffs?
tax
economy
trade
savings
7
How are goods exchanged in a traditional economy?
using currency to pay
charging goods on a credit card
bartering with a seller
) paying for services by check