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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
a person who has the ideas and skills to start a business
entrepreneur
laborer
manager
consumer
- 4. Multiple Choice
The value of all the goods and services that a country produces in a year.
Gross Domestic Product (GDP)
Factors of Production (FOP)
Free-Market Economy (FME)
- 5. Multiple Choice
Items for sale that can be touched.
goods
services
demand
profit
- 6. Multiple ChoiceTrading something for something else - no currency involveddemandbartergoodsmarket
- 7. Multiple ChoiceTools we use to make productscapital resourceshuman resourcesnatural resourcesentrepreneurs
- 8. Multiple Choice
What is profit?
the money you have left over after you paid your bills
how many people want your good/service
the amount of an item you have
none of these
- 9. Multiple Choice
Recession in the world economy is due to
COVID 19
Logistics disruption
Unemployment
All of the above
- 10. Fill in the Blank
Name the current RBI Governor of India
- Answer choicesTagsAnswer choicesTags