Economics vocab from unit 2B
Quiz by Holly Ray
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- Q 1/18Score 0the system in which people produce sell and buy things. What to produce, how to produce it and who gets it.29Economy
18 questions
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- Q1the system in which people produce sell and buy things. What to produce, how to produce it and who gets it.Economy30sEditDelete
- Q2The total value of the goods and services that a country producesGross Domestic Product30sEditDelete
- Q3The total value of the goods and services that a country produces per personGross Domestic Product Per Capita (GDP Per Capita)30sEditDelete
- Q4The basic systems of society such as roads, bridges, sewers and electricityInfrastructure30sEditDelete
- Q5the percentage of people who can read and writeLiteracy Rate30sEditDelete
- Q6How long people live on average in a given place - usually a country.Life Expectancy30sEditDelete
- Q7People trade goods and services without money (barter)Traditional Economy30sEditDelete
- Q8Privately owned businesses create goods and services to sell. They compete with one another to get the most customers, and therefore, make the most money with little government interference.Free Enterprise Economy (also called market economy or capitalism)30sEditDelete
- Q9the government owns most parts of the economy and decides what will be produced and sold and decides who gets it.Command Economy (often called Communism)30sEditDelete
- Q10has elements of both free enterprise and command. High taxesMixed Economy (often called Socialism)30sEditDelete
- Q11natural resourcesland30sEditDelete
- Q12human mental and physical activity needed to produce goods and serviceslabor30sEditDelete
- Q13money, and goods (tools, machines, factories, roads. etc.) used to make other goodscapital30sEditDelete
- Q14people who take risks to start, organize or invest in businessesentrepreneurship30sEditDelete
- Q15Taking natural resources from the earth like Fishing, mining, forestry and agriculturePrimary economic activity30sEditDelete
- Q16Making products USING the natural resources like Construction, factories and processing plantsSecondary economic activity30sEditDelete
- Q17Service jobs - hospitals, running a grocery store, fast food, truckingTertiary economic activity30sEditDelete
- Q18collecting, processing, and manipulating information, and culture - finance, government, entertainment, news, researchingQuaternary economic activity30sEditDelete
