ME Economics Vocab Review: Question Preview (ID: 27240)


Below is a preview of the questions contained within the game titled ME ECONOMICS VOCAB REVIEW: Vocabulary Review .To play games using this data set, follow the directions below. Good luck and have fun. Enjoy! [print these questions]


Play games to reveal the correct answers. Click here to play a game and get the answers.

The government controls what to make, how many to make, how to make it, and sets the price. Decisions are made by government planners.
a) Command b) Mixed c) Market d) Traditional
A combination of government control (to protect consumers) and individual control (to increase money). Most economies in the world are this type of system.
a) Command b) Mixed c) Market d) Traditional
The individual decides what to make, how many to make, how to make it, and sets the price.
a) Command b) Mixed c) Market d) Traditional
Based on customs from the past, this economic system involves trading goods for services.
a) Command b) Mixed c) Market d) Traditional
Another word for money
a) Currency b) Embargo c) Natural Resources d) Specialization
System to change from one type of currency to another. Important for trade between countries.
a) Currency b) Exchange Rate c) Entrepreneur d) Tariff
Total value of all the goods and services a country produces in a year.
a) Standard of Living b) Currency c) Gross Domestic Product d) Quota
Raw materials such as land, water, forests, soil, minerals, oil, and natural gas.
a) Gross Domestic Product b) Standard of Living c) Specialization d) Natural Resources
An individual willing to take a risk in order to create a new product or service.
a) Embargo b) Entrepreneur c) Specialization d) Trade barrier
An indicator of the quality of life in a country. It includes life expectancy, GDP, literacy rate, etc…
a) Gross Domestic Product b) Literacy Rate c) Specialization d) Standard of Living
Producing the goods or services that a country makes best.
a) Specialization b) Currency c) Natural Resources d) Quota
Anything that slows down or stops one country from trading with another.
a) Natural Resources b) Currency c) Entrepreneur d) Trade Barrier
A tax placed on goods from another country.
a) Tariff b) Quota c) Embargo d) Entrepreneur
A specific amount or limit of goods that can be imported.
a) Tariff b) Embargo c) Quota d) Entrepreneur
When one country stops trading with another country.
a) Tariff b) Embargo c) Quota d) Currency
Investing in training, education, and job training for the workforce.
a) Capital Goods b) Human Capital c) Currency d) Specialization
Investing in things such as factories, equipment, computer systems, vehicles, and technology
a) Capital Goods b) Human Capital c) Currency d) Specialization
Play Games with the Questions above at ReviewGameZone.com
To play games using the questions from the data set above, visit ReviewGameZone.com and enter game ID number: 27240 in the upper right hand corner at ReviewGameZone.com or simply click on the link above this text.

TEACHERS / EDUCATORS
Log In
| Sign Up / Register