Economics Vocabulary

Assessment
•
Kimberly Savely
•
History
•
6th Grade
•
5K plays
•
Medium
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20 questions
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1.
Multiple Choice
An economy based on private ownership of business and consumers freely choose goods and services.
Capitalism
Communism
Traditional
Mixed
2.
Multiple Choice
Human-made materials used to produce goods and services.
capital
land
labor
entrepreneur
3.
Multiple Choice
An economy where the government controls the factors of production resources.
command
market
capitalism
mixed
4.
Multiple Choice
buys and uses goods and services
consumer
producer
entrepreneur
labor
5.
Multiple Choice
The number of consumers who want and able to buy a good or service.
demand
supply
opportunity cost
entrepreneur
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