economy test

The picture below represents a rural area?

A shortage of entreprenuers would cause less ideas to create new businesses.

The tractor in the picture represents what factor of production?

Which country's GDP would show it is more developed then the others?

Scarcity forces us to

What type of productive resource would this worker represent?

When the store is out of a product and the shelves are empty they are experiencing what?

What is the state of being dependant upon other countries (interdependence) caused by?

What economy has a government that owns businesses and controls production, no personal creativity, one political party

The picture below represents an urban area.

What type of economy would most likely represent the USA?

The kids on SharkTank that invented the products were like what factor of production?

What economy has a govt. that allows a person to open their own businesses, set prices, and keep profits.

What is the exchange of goods and services between countries called

When the supply of crops decrease due to a natural disaster like a flood or fire what happens to the demand and price?

What term best represents the following: Free enterprise, Commiunist, Socialist?

What is the organization of production of goods and services?

When two countries depend on each other to buy and sell goods. One country trading with another country.

A hairstylist would be a labor/human resource in which industry?

Economy where the government owns some basic industries in the country and pass them out so that basic needs are met.

Which economy would have a higher standard of living for its citizens?

The cows represent what type of productive resources?

What are the benefits of a free enterprise economy?

What productive resource would the chairs in this picture represent?