ECO Topic 2 Vocabulary Lessons 1,2,3,4 PEARSON 2016
Quiz yourself by thinking what should be in
each of the black spaces below before clicking
on it to display the answer.
Help!
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| economic system | show 🗑
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| factor payments | show 🗑
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| profit | show 🗑
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| show | level of economic prosperity
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| innovation | show 🗑
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| traditional economy | show 🗑
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| market | show 🗑
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| specialization | show 🗑
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| free market economy | show 🗑
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| show | a person or group of people living in a single residence
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| show | an organization that uses resources to produce a product or service, which it then sells
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| product market | show 🗑
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| show | Scottish social philosopher; published The Wealth of Nations; believed competition and our own self-interest actually helped to keep the marketplace functioning
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| show | an individual’s own personal gain
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| show | the hope of reward or fear of penalty that encourages a person to behave in a certain way
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| competition | show 🗑
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| show | an economic system in which the government makes all the decisions on the three key economic questions
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| show | another name for a centrally planned economy
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| show | a range of economic and political systems based on the belief that wealth should be evenly distributed throughout society
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| communism | show 🗑
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| authoritarian | show 🗑
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| show | property that is owned by individuals or companies, not by the government or the people as a whole
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| show | private property that individuals have created such as books, songs, or movies can be protected by government laws
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| mixed economy | show 🗑
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| show | a period of change in which a nation moves from one economic system to another
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Review the information in the table. When you are ready to quiz yourself you can hide individual columns or the entire table. Then you can click on the empty cells to reveal the answer. Try to recall what will be displayed before clicking the empty cell.
To hide a column, click on the column name.
To hide the entire table, click on the "Hide All" button.
You may also shuffle the rows of the table by clicking on the "Shuffle" button.
Or sort by any of the columns using the down arrow next to any column heading.
If you know all the data on any row, you can temporarily remove it by tapping the trash can to the right of the row.
To hide a column, click on the column name.
To hide the entire table, click on the "Hide All" button.
You may also shuffle the rows of the table by clicking on the "Shuffle" button.
Or sort by any of the columns using the down arrow next to any column heading.
If you know all the data on any row, you can temporarily remove it by tapping the trash can to the right of the row.
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Created by:
cwarsing
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