6th Grade Economics Review

The total value of all the goods and services produced in one country is called what?

The tribes of the Amazon Rainforest practice this economy.

What is one way YOU can contribute to the economy?

The economic system in which a communist government makes the choice of what goods to produce.

Business owners are free to make and sell whatever they wish with no government control.

When your family makes purchases from the grocery store, you are participating in the economy.

In a market economy, most businesses are owned by individual owners OR groups of people called _________________.

The limited supply of something is referred to as what?

This economy is controlled by the government; the government makes all the decisions.

Another term for market economy is:

This type of economy is a combination of market and command.

This word describes how many customers want certain goods.

This type of economic system includes a free enterprise system with some government influence.

This word describes the amount of goods available.

The government controls everything about the economy in this type.

A country's government controls the steel industry but allows individuals to sell goods.

This type of economy is based on the customs of the people and the natural resources they have.

This type of economy has private business owners and is driven by the demand of consumers.

This economy is based on what one's ancestors have always done.

Business owners and customers make decisions about what to make, buy and sell.