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5 Written questions

5 Matching questions

  1. mixed economy
  2. quarternary industry
  3. natural resources
  4. primary industry
  5. command economy
  1. a taking something from the earth - farming, fishing, mining and lumbering
  2. b government controls/owns businesses and property, government makes all economic decisions/North Korea/Cuba
  3. c minerals, water, trees and land
  4. d services for producing or selling things - banking and retail
  5. e there is no pure economy, each has some characteristic of another, economies can change/Russia/United States/China

5 Multiple choice questions

  1. a job done for someone else
  2. what we need to produce goods and services,
    natural, human and capital resources
  3. resources are owned by private citizens, citizens can keep profits from their own businesses, price guides the marketplace/United States/China (somewhat)/Russia/European countries/Mexico
  4. the value of your next best alternative
  5. amount paid to an individual for services provided

5 True/False questions

  1. consumerone who uses goods or services


  2. entrepreneurshipminerals, water, trees and land


  3. capital resourcesminerals, water, trees and land


  4. economic systemhow a country's economy is organized, determines what to produce, how to produce it and who to produce it for


  5. production processnatural resources + human resources + capital resources = goods and services


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