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Duplicate of Ch. 5 - Economics - My World Geography - 5th Grade Flashcards | StudBud
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Duplicate of Ch. 5 - Economics - My World Geography - 5th Grade
Duplicate of Ch. 5 - Economics - My World Geography - 5th Grade
31 terms
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StudBud Administration
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a #review quiz for #5thgrade about #economics
Flashcards
31 cards
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Practice quiz
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Questions
31
Answers
1
people/businesses that make and sell products
reciever
producer
consumer
maker
2
a factor that encourages people to act in a certain way
profit
bond
incentive
recession
3
a country with a strong economy and high standard of living
developing country
developed country
4
a decline in economic growth
inflation
recession
successsion
revenue
5
an economy in which people make economic decisions based off their customs and habits
mixed economy
market economy
traditional economy
command economy
6
money earned by selling goods or services
service
recession
profit
revenue
7
Which of the following are ways to increase economic development?
investing in education and training
establishing price controls
lowering wages
encouraging more farming
8
the exchange of goods or services
import
export
tariff
trade
9
the desire for a certain good or service
supply
market
incentive
demand
10
goods and services made within a country but sold outside the country's borders
export
import
11
a share of ownership in a company
stock
budget
incentive
bond
12
removal of trade barrier
free trade
tariff
interest
bond
13
a plan that shows income expenses and expenses over a period of time
stock
interest
budget
incentive
14
an economy which combines elements of traditional, market, and command economic systems
traditional economy
mixed economy
command economy
market economy
15
an organized way for producers and consumers to trade goods and services
economy
buisiness
command economy
market
16
a country with a less-productive economy and lower standards of living
developing country
developed country
17
Which type of economic system has the highest level of government control?
Traditional
Mixed
Market
Command
18
a restriction or government policy that limits international trade
trade
free trade
tariff
trade barrier
19
amount of goods and services produced given the amount of services
recession
productivity
traditional economy
supply
20
people/businesses that buy good or services
consumer
producer
maker
reciever
21
The study of how people meet their wants and needs
traditional economy
demand economy
scarcity
econonmics
22
goods and services sold inside a country that are produced in another country
import
export
23
an economy in which individual consumers and producers make economic decisions
command economy
market economy
mixed economy
traditional economy
24
what you have to give up
incentive
export
stock
opportunity cost
25
having limited quantity of something
supply
demand
scarcity
producer
26
money a company has left after subtracting the cost of doing business
stock
profit
inflation
revenue
27
the amount of a certain good or service
profit
revenue
supply
demand
28
Which describes the type of buying and selling that takes within a country
tariff
international trade
domestic trade
free trade
29
an economy in which the central government makes ALL economic decisions
traditional economy
market economy
mixed economy
command economy
30
a general increase in prices
revenue
inflation
recession
successsion
31
the price for borrowing money
interest
bond
recession
budget
