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Economics Terms

Quiz by jackie thompson

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25 questions
Show answers
  • Q1
    the transfer of work/production from one country to another where the cost of labor/manufacturing is cheaper
  • Q2
    an alternative fossil fuel derived from fossilized organic material found in sedimentary rock
    shale oil
  • Q3
    a system of exchange whereby one good/service is given in return for another; bartering does not require monetary exchange
  • Q4
    an economic model wherein government planners make all business and financial decisions
    command economy
  • Q5
    an economic model used by governments to determine what should be produced/provided in terms of goods and services, how, and for whom
    economic system

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