Economics
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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| Economics | The production, distribution, and consumption of goods and services.
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| Capitalism | Economic system in which private owners control the production of goods and services.
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| Bartering | Exchanging one good or service for another.
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| Supply | How much people have or how much is available.
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| Demand | How or what people want.
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| GDP | The value of all goods and services produced in a county per year.
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| Standard of living | The degree of wealth and material comfort available to a person or community.
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| Literacy rate | The percentage of people in a country who can read and write.
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| Specialization | Making a living of what a person does best.
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| Currency | Money$
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| Currency exchange | trading one type of currency for another.
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| Voluntary exchange | A market where buyers or sellers have the right to sell or buy what they want or refuse to if they choose.
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| Questions answered | What to produce. How to produce it. For whom to produce it.
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| Traditional economic system | Based on traditions
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| Market economic system | People own all resources( no government) and keep all profits.
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| Command economic system | Government chooses what goods are being made and how they are made.
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| Mixed economic system | Combination of market and command economy.
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| Tariff | Taxes on goods
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| Quota | Restrictions on amounts of a good that can be imported into a country
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| Embargo | Forbid trade
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| Euro | European currency
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| EU promotes | free trade and democracy
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| Natural resources | naturally occurring source of wealth, land, or water
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| capital resources | machines and tools used to produce goods.
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| human resources | people in a work force
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| entreprenur | person who takes risks to start a business
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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:
Kiley7
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