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Economy & Systems
Economy Vocab & types of economic systems
| Question | Answer |
|---|---|
| Tools used to make other products are called.... | Capital Resources |
| People who work for a company are called...... | Human Resources |
| Ther percentage of people who can read & write is a country's....... | Literacy Rate |
| Once you divide the amount of money a country gets from the manufacturing of its products by the number of people who live there, you have the...... | GDP per Capita (Gross Domestic Product Per Unit) |
| The amount of work a person or company does in a specific time is......... | Productivity |
| If you want a new 42" flat TV & a PS3, but you can't buy both with the money you have, you are experiencing....... | Scarcity |
| If the cafeteria runs out of slushy cups, then the _________________ is low. | Supply |
| A country that is rich in _________ has the ability to make lots of money. | Resources |
| If the people in a society do not manage their money correctly, then the_______of tha country will be affected. | Economy |
| Automobiles, games, and technology all contribute to Japan's | GDP |
| CVS is able to build its stores across the street from Walgreens because we have a _______ ______ ______ in the United States. | Free Enterprise System |
| If someone takes care of himslef, then it will increase his .......... | Life Expectancy |
| If the _____________ for a product goes up, so will its price. | Demand |
| Our society is able to communicate with people all over the world because we have a high | Level of Technology |
| In some societies, the only way to have food is to grow it yourself. We refer to this as .... | Subsistence Frarming |
| Oprah is one of the richest _________ in the world. Swe was smart for starting her own company. | Entrepreneurship |
| I wish I had an ___________ of money in my bank account instead of $1.42. | Abundance |
| Oranges from Florida are examples of a ....... | Commercial Crop |
| The benefit that could be gained from a different use of the same source is referred to as.............. | Opportunity Cost |
| Water is an example of a ........... | Natural Resource |
Created by:
sunirosales
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