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Economic Vocabulary
Test Description: Match economic terms to the correct definition or description
Instructions: Answer all questions to get your test result.
1) total value of all the goods and services produced in a country in one year
A
gross domestic product
B
traditional economy
C
currency
D
market economy
2) the study of the production, distribution, and use of goods and services
A
currency
B
trade barrier
C
gross domestic product
D
economics
3) amount of goods available
A
economy
B
supply
C
market
D
demand
4) money used in a particular country to buy goods and services
A
currency
B
economics
C
supply
D
embargo
5) economy based on customs and habits of the past
A
market economy
B
command economy
C
mixed economy
D
traditional economy
6) economy in which the government makes the economic decisions
A
suppy
B
traditional economy
C
market economy
D
command economy
7) business owners decide what goods to make and sell
A
traditional economy
B
market economy
C
command economy
D
supply economy
8) combination of other economic systems
A
blended economy
B
mixed economy
C
traditional economy
D
supply economy
9) all modern countries have this type of economic system
A
government economy
B
market economy
C
traditional economy
D
mixed economy
10) how many consumers want the goods
A
demand
B
currency
C
tariff
D
supply
*select an answer for all questions
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