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Economics Vocabulary

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  • 1. Multiple Choice
    30 seconds
    1 pt

    An economy based on private ownership of business and consumers freely choose goods and services.

    Capitalism

    Communism

    Traditional

    Mixed

  • 2. Multiple Choice
    30 seconds
    1 pt

    Human-made materials used to produce goods and services.

    capital

    land

    labor

    entrepreneur

  • 3. Multiple Choice
    30 seconds
    1 pt

    An economy where the government controls the factors of production resources.

    command

    market

    capitalism

    mixed

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