6th grade Economics Quiz

When SUPPLY is equal to DEMAND:

All the things needed to produce a product are called

When one company controls ALL the production or selling of a product:

What you give up when you make a choice is called:

A ban on goods from a certain country is called:

Investing in the Stock Market has:

To put something IN, with hopes of getting MORE OUT:

When the price of goods and services goes up over time:

The price of things depends on:

Buying a PIECE of a company means that you own a ________________ of stock.

This economy is mostly controlled by the government:

The collection of businesses that offer SIMILAR goods or services form a:

This economic system relies on PRIVATE OWNERSHIP of land and business:

Producing GOODS is called:

What type of government usually goes with a command economy?

The total value of all goods and services produced in a country in a year:

When we ship corn to Asia, we are____________________.

A hammer, when used by a carpenter to build a house, is an example of:

lacking enough money to buy necessary things:

When the supply of pencils goes down, the price usually:

A period of VERY BAD economic times that lasts a long time:

natural resources that are used to produce goods are called