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Economics 6th grade Flashcards | StudBud
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Economics 6th grade
Economics 6th grade
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A #socialstudies #Quiz to help students understand and study the basics of economics!
Flashcards
15 cards
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Practice quiz
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Questions
15
Answers
1
The voluntary exchange of goods and services.
Trade
Physical Capital
Quota
Embargo
2
Resources from nature
Embargo
natural resources
Tariff
Quota
3
Name all three trade barriers.
Command, Market, and Traditional
Quota, Embargo, and Tariff
Savings, budget, and investment
Scarcity, Specialization, and Entrepreneur
4
The education, training, skills, and health of the workers in a business or country
Physical Capital
Specialization
Scarcity
Human Capital
5
the factories, machines, technologies, buildings, and property needed for a business to operate
Scarcity
Physical capital
Trade
Human capital
6
A tax on imports
Trade
Quota
Tariff
Embargo
7
Limits on trade
Natural resources
Embargo
Trade
Trade barriers
8
A person who starts a business is known as a
Specialization
Entrepreneur
Scarcity
Trade
9
A limited supply of something
Quota
Scarcity
Entrepreneur
Tariff
10
A government ordering stopping trade with another country.
Embargo
Quota
Trade
Specialization
11
Putting resources into producing what you can best produce
Human capital
Specialization
Scarcity
Physical Capital
12
A specific limit placed on the number of imports that may enter a country
Quota
Embargo
Trade
Physical capital
13
Which of the following is NOT one of the 3 basic economic questions?
How to produce?
For whom to produce?
What to produce?
When to produce?
14
The total value or all the final goods and services produced in a country in one year
Scarcity
Gross Domestic Product
Import
Export
15
Modern economies are a mixture of
Only Command
Traditional and Market
Command and Market
Command and Traditional
