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5 Written questions

5 Matching questions

  1. invisible hand
  2. economics
  3. 5th
  4. factors of production
  5. household
  1. a Technology
  2. b land, labor, and capital
  3. c the study of how people seek to satisfy their needs and wants by making choices
  4. d term economists use to describe the self-regulating nature of the marketplace
  5. e a person or group of people living in the same residence

5 Multiple choice questions

  1. requiring strict obedience to an authority, such as a dictator
  2. the love of one's country; the passion that inspires a person to serve his or her country
  3. the market in which households purchase the goods and services that firms produce
  4. industry that requires a large capital investment and that produces items used in other industries
  5. to sell state-run firms to individuals

5 True/False questions

  1. economic systemthe methos used by a society to produce and distribute goods and services


  2. incentivelarge farm leased from the state to groups of peasant farmers


  3. competitionperiod of change in which an economy moves away from a centrally planned economy toward a market-based system


  4. firmEntrepreneurs


  5. traditional economyeconomic system that relies on habit, custom, or ritual to decide questions of production and consumption of goods and services


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