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Duplicate of Georgia Sixth Grade Economics Vocabulary Flashcards | StudBud
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Duplicate of Georgia Sixth Grade Economics Vocabulary
Duplicate of Georgia Sixth Grade Economics Vocabulary
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40 plays
#economics
Flashcards
15 cards
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Questions
15
Answers
1
Supply and Demand
is associated with which economic system?
Market
Command
Traditional
2
The
standard of living
in a country is determined by ...........
Income
Education
Literacy Rate
All of the above
3
What helps to raise a country's Gross Domestic Product (GDP)?
High population
High literacy rate
High number of iphones
High number of cars
4
Explain the relationship between a country's literacy rate and its standard of living.
The higher the literacy, the higher the standard of living.
The higher the literacy, the lower the standard of living.
5
Which of the following will influence economic
GROWTH
?
entrepreneurship
natural resources
life expectancy
population
6
Things that
come from the land
are called
Natural Resources
Capital Goods
Population
Abundance
7
An example of investing in
HUMAN CAPITAL
is when a country ______________
invests in the education of its citizens.
buys new machines for its factories.
invests in new computers for government offices.
8
Entrepreneurship
is _________________
innovations and ideas involved in starting a new business.
the ability to read and write.
the standard that we use to judge economic growth.
9
A country's GDP is its______________
total population.
total products sent to other countries.
total natural resources.
total good and services produced in one year.
10
In a COMMAND economy, who makes all economic decisions?
President
Government
Businesses
Citizens
11
Which of these would move a country closer to the
command
side of the economic continuum?
Taxes on exported goods being removed
Laws limiting the type of goods that can be made are removed
Business owners being allowed to trade overseas freely
Laws being passed to protect consumers from unsafe products
12
This word means there is a
not a lot
of this product available:
Abundance
Overflow
Scarcity
13
Literacy is......
The ability to read and write
The ability to speak
The ability to learn
14
Most countries have this type of economy.
Mixed
Market
Traditional
Command
15
What is the correct order of the economic continuum? (Think worse to best)
Mixed-----Market------Command
Traditional-----Command-----Market
Command-----Market------Mixed
Command----Mixed-----Market
