Civics M6 Review
Quiz yourself by thinking what should be in
each of the black spaces below before clicking
on it to display the answer.
Help!
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| A(n) ______________ is the method used by a country to determine how best to influence trade and production of goods and services to meet the wants and needs of its people. | Economic System
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| In Country A, the type of job a person does is based on custom. Which economic system does this represent? | Traditional
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| What question might a country consider when determining the best economic system to meet the needs and wants of its people? | How is a good made?
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| _______ is the want, willingness, and resources to buy a good or service. | Demand
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| _______ is when two or more businesses come together that produce the same product. | Horizontal Merger
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| Business A sells beauty products. Business A has decided to purchase two other companies; one that sells pharmaceuticals and one that sells medical supplies. Which type of merger is this describing? | Conglomerate
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| In a perfectly competitive market, there are many businesses offering the exact same good or service. There is plenty of information shared on the price of goods and services to consumers and businesses. How does this affect the price of products? | The prices of goods is based on the market equilibrium price
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| Business C is the only paint store in the country. It has a monopoly on paint sells to home builders, interior designers, homeowners, and more. How does this monopoly affect the price of paint for the consumers? | Due to the monopoly Business C has, the price will be higher than the market equilibrium price.
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| When limited resources prevent us from producing all of the goods and services we want or need we experience _________________. | Scarcity
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| The four factors of production include ________________. | Land, Labor, Capital, Entrepreneurship
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Review the information in the table. When you are ready to quiz yourself you can hide individual columns or the entire table. Then you can click on the empty cells to reveal the answer. Try to recall what will be displayed before clicking the empty cell.
To hide a column, click on the column name.
To hide the entire table, click on the "Hide All" button.
You may also shuffle the rows of the table by clicking on the "Shuffle" button.
Or sort by any of the columns using the down arrow next to any column heading.
If you know all the data on any row, you can temporarily remove it by tapping the trash can to the right of the row.
To hide a column, click on the column name.
To hide the entire table, click on the "Hide All" button.
You may also shuffle the rows of the table by clicking on the "Shuffle" button.
Or sort by any of the columns using the down arrow next to any column heading.
If you know all the data on any row, you can temporarily remove it by tapping the trash can to the right of the row.
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Created by:
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