stud
bud
Sign up
Log in
Home
Library
Explore
SAT
More
Duplicate of Economics Vocabulary Review Flashcards | StudBud
Explore
/
Duplicate of Economics Vocabulary Review
Duplicate of Economics Vocabulary Review
17 terms
·
StudBud Administration
·
42 plays
SS6E1 ECONOMIC SYSTEMS #6thgrade #7thgrad #socialstudies #economics
Flashcards
17 cards
F
Practice quiz
P
Host live
L
Questions
17
Answers
1
Which of the following countries have little to no economic freedom? Ex: command economy
Cuba
United States
Canada
Brazil
2
The factories, machines, technologies,buildings, and property needed by businesses to operate.
Capital goods
Human capital
Natural resources
Entrepreneurship
3
A mixed economy has characteristics of both a command economy and a market economy.
True
False
4
What is the root of economics? Ex: a limited supply of something
Exports
Natural resources
Imports
Scarcity
5
When business owners who risk everything because they believe their business ideas will make $
Human capital
Capital goods
Entrepreneurship
Natural resources
6
In traditional economy, trading goods and services without the use of money called...
Taxation
Free trade
Currency Exchange
Bartering
7
Which of the following is NOT one of the three basic economic questions?
How to produce
What to produce
Why should you produce
For whom to produce
8
Which economic system is based off customs, traditions, and beliefs? Ex: the Aborigines
Command economy
Market economy
Private economy
Traditional economy
9
Which economic system is when the government controls production of goods/services? Ex: Cuba
Pure Economy
Market economy
Traditional economy
Command Economy
10
Which country has the most economic freedom to buy & sell goods and services?
Cuba
Canada
Brazil
11
Training & skills that make it possible for workers to earn a livingproducing goods & services.
Capital Goods
Natural Resources
Human Capital
Entreprenuership
12
Private business owners determine what goods/services are produced and how they will be made.
Command Economy
Traditional economy
Market economy
13
Which factor of production is considered "gifts of nature"?
Natural resources
Capital goods
Entrepreneurship
Human capital
14
which country has the least economic freedom to buy and sell goods and services?
Canada
Brazil
Cuba
15
In this economy, people have the most freedom to buy & sell goods & services.
Pure economy
Traditional economy
Command economy
Market economy
16
The economic worth of all goods and services produced in a country? How rich/poor a country is.
National Revenue
Economic Worth
Gross Domestic Product
Grade Point Average
17
Most democratic countries have this kind of economic sysytem
Good Economy
Command economy
Bad Economy
Mixed economy
