Economic Vocabulary
12 hours ago
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  • Question 1
    45 seconds
    Q.

    an economic system where individuals and companies are free to make a profit selling goods and services with a limited government

    answer choices

    Communism

    Socialism

    Free Enterprise

    Mickymouseism

  • Question 2
    30 seconds
    Q.

    an economic system in which many businesses are owned and run by the government

    answer choices

    Socialism

    Traditional

    Communism

    Free Enterprise

  • Question 3
    30 seconds
    Q.

    The average yearly income of citizens in a country

    answer choices

    Communism

    Per Capita Income

    Taxes

    Economics

  • Question 4
    30 seconds
    Q.

    An economics system in which all businesses are owned and run by the government

    answer choices

    Socialism

    Traditional

    Free Enterprise

    Communism

  • Question 5
    30 seconds
    Q.

    countries that have a high per capita income and quality of life is generally good

    answer choices

    Less Developed Countries

    More Developed Countries

    Supply

    Demand

  • Question 6
    30 seconds
    Q.

    a shortage or lack of supply

    answer choices

    demand

    scarcity

    consume

    supply

  • Question 7
    30 seconds
    Q.

    What is Economics?

    answer choices

    a system of destroying, storing, and consuming goods and services

    a system of not producing needed goods and services

    a system of producing, distributing, and consuming goods and services

    a system of growing plants and trees to better the environment

  • Question 8
    45 seconds
    Q.

    In less developed countries, they have a

    answer choices

    low per capita income and a quality of life is generally good

    low per capita income and a quality of life is generally poor

    high per capita income and a quality of life is generally good

    high per capita income and a quality of life is generally poor

  • Question 9
    30 seconds
    Q.

    Countries that depend on one another for a product or services is ________________________________.

    answer choices

    Per Capita Income

    Human Resources

    communism

    Global Economic Interdependence

  • Question 10
    30 seconds
    Q.

    to buy a product or service

    answer choices

    demand

    produce

    consume

    supply

  • Question 11
    30 seconds
    Q.

    selling and shipping a product is: ____________________

    answer choices

    Produce

    Distribute

    Demand

    Supply

  • Question 12
    30 seconds
    Q.

    Necessary items, such as food, clothing or equipment is known as ______________________.

    answer choices

    Consume

    Produce

    Demand

    Supply

  • Question 13
    30 seconds
    Q.

    the desire for a product or service

    answer choices

    Demand

    Supply

    Consume

    Produce

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