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Economics Vocabulary Flashcards | StudBud
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Economics Vocabulary
Economics Vocabulary
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StudBud Administration
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A #socialstudies Quiz to introduce the basics of 6th grade #economics.
Flashcards
8 cards
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Practice quiz
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Host live
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Questions
8
Answers
1
What goods and services will be produced, how they will be produced and who will consume them
Quota
Command Economy
Economic System
Scarcity
2
Centralized planning groups decide what and how goods and services will be produced
Market Economy
Scarcity
Command Economy
Quota
3
blends characteristics of command and market economies but falls closer to one form
Mixed Economy
Traditional Economy
Scarcity
Command Economy
4
Customs and habits of the past decide what and how goods and services are produced
Traditional Economy
Market Economy
Capitalism
Command Economy
5
Limited supply of something.
Economic System
Capitalism
Scarcity
Quota
6
Being told by the government what and how much a product to produce
Scavenger
Quota
Scarcity
Capitalism
7
Change in price guide what and how goods and services will be produced distributed and consumed
Free Enterprise
Traditional Economy
Command Economy
Market Economy
8
Free enterprise, Capitalism, Laissez- faire
centralized market economy
decentralized market economy
command economy
market economy
