EPF Ch 6 Vocab Pt1
Authored by Rachael Baudendistel
Other
KG - 12th Grade
Used 12+ times
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14 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
the structure of methods and principles that a society uses to produce and distribute goods and services
economic system
factor payment
profit
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
the income people receive in return for supplying factors of production
profit
traditional economy
factor payment
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
the amount of money a business receives in excess of expenses
specialization
profit
market
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
a set of government programs that protect people who face unfavorable economic conditions
traditional economy
safety net
free market economy
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
level of economic prosperity
standard of living
product market
self-interest
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
the process of bringing new methods, products, or ideas into use
firm
factor market
innovation
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
an economic system that relies on habit, custom, or ritual to decide the three key economic questions
market
traditional economy
specialization
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