Economics Word Scramble
|
Embed Code - If you would like this activity on your web page, copy the script below and paste it into your web page.
Normal Size Small Size show me how
Normal Size Small Size show me how
| Question | Answer |
| What is traditional? | Based on customs and traditions |
| Who owns the resources? | all members of the economy |
| Who keeps the profits? | No money profits: goal is to survive. |
| What is command? | Government decides what goods are made and how they will be made |
| What is bartering? | the exchange of one good for another |
| What is capitalism? | economic system in which private owners control the production of goods and profit |
| What is a market economy? | an economy that operates by voluntary exchange in a free market |
| How many countries have a market economy? | 0 |
| What is a mixed economy? | combination of privately and government owned businesses |
| What is a tariff? | a tax |
| What is a quota? | a limit of imports |
| What is an embargo? | a ban of exporting |
| What are human resources? | people who perform the labor |
| What are capital goods? | items that people need to perform their jobs |
| What are natural resources? | resources that come from nature |
| What is an entreprenuer? | people with ideas who are willing to take a risk |
| What is a standard of living? | how well people live in a country |
| What is a literacy rate? | the rate of people over 15 years old can read |
| What is specialization? | producing or providing a service in what you do best |
| What is opportunity cost? | value is given up when a choice is made |
| What are two examples of a capital good? | technology and a spoon |
| What are two examples of a natural resource? | rock and trees |
| What are three ways a country can invest in its human resource? | education, training, and health |
| What is an exchange rate? | how much one currency is worth in terms of another |
| What is currency? | money |
| What to ______? | produce |
| How to _________ it? | produce |
| For whom to ______? | produce |
Created by:
200346691
Popular Economics sets