The Economy 6th Grade

Taxes is the amount of money an individual is required to pay the government.

What is an income?

The study of the way money, goods, and services are made and used in society.

A safe investment is when you invest money in a way that will make you loose lots of money.

What is a profit?

An investment is when you spend your money in a way that you hope to make more money.

Producers and consumers make all the decisions in which economic system?

When you are in debt you owe somebody money.

How do you feel about economics?

A risky investment is a way of spending money that will cause you to make or loose money.

What is economics?

What kind of economic system do we have in the United States?

The 3 questions that must be answered by the economic system are:

Saving money is when you spend your money and do not save it for later.

Economic system in which individuals and private groups make decisions about what to produce.

Delayed gratification is...

Which of the following is NOT a factor of production?

How many economic systems are there?

Who are producers?

System inwhich the government supports free enterprise through decisions that affect the market

What is an example of an entrepreneur?

What is income?

An entrepreneur is someone who creates a business.

Economic system in which habitat and custom determine the rules for all economic activity.

A risk is...

The thing a business is selling is called a...

Which is NOT one of the three decisions economic systems must make?

Which of the following is NOT a type of economic system?

In what event does an individual buy a ticket to win a large amount of money?

Economic system in which the government makes all decisions