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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
currency
B
market economy
C
traditional economy
D
gross domestic product
2) the study of the production, distribution, and use of goods and services
A
gross domestic product
B
economics
C
trade barrier
D
currency
3) amount of goods available
A
economy
B
supply
C
demand
D
market
4) money used in a particular country to buy goods and services
A
currency
B
embargo
C
supply
D
economics
5) economy based on customs and habits of the past
A
market economy
B
traditional economy
C
mixed economy
D
command economy
6) economy in which the government makes the economic decisions
A
market economy
B
traditional economy
C
suppy
D
command economy
7) business owners decide what goods to make and sell
A
market economy
B
command economy
C
supply economy
D
traditional economy
8) combination of other economic systems
A
supply economy
B
traditional economy
C
mixed economy
D
blended economy
9) all modern countries have this type of economic system
A
government economy
B
market economy
C
mixed economy
D
traditional economy
10) how many consumers want the goods
A
supply
B
currency
C
demand
D
tariff
*select an answer for all questions
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