Test Your Economics Vocabulary! Trivia Quiz

13 Questions | Total Attempts: 43

SettingsSettingsSettings
Test Your Economics Vocabulary! Trivia Quiz - Quiz

In economics, vocabulary can be anything from tariff to literacy rate. An example of economics vocabulary includes resources. A resource is something of value to us that we can use to produce a good or service. Another example is equilibrium, which is when the supply and demand are equal. If you are interested to discover more about economics vocabulary, look no further than this quiz.


Questions and Answers
  • 1. 
    A government tax on government import, export goods.
    • A. 

      Embargo

    • B. 

      Quota

    • C. 

      Tariff

  • 2. 
    Job, customs, and Habits passed down through generations.
    • A. 

      Traditional economy

    • B. 

      Command economy

    • C. 

      Market economy

  • 3. 
    Things you need for your business to prosper or work.
    • A. 

      Human capital

    • B. 

      Capital (goods)

    • C. 

      Entrepreneurs

    • D. 

      Natural Resources

  • 4. 
    The ability of people in a country to read and write.
    • A. 

      GDP

    • B. 

      Currency

    • C. 

      Literacy Rate

    • D. 

      Investment

  • 5. 
    Controlled by Government.
    • A. 

      Human Capital

    • B. 

      Embargo

    • C. 

      GDP

    • D. 

      Command economy

  • 6. 
    The values in an employee's education + Abilities that help the economy.
    • A. 

      Currency

    • B. 

      Human capital

    • C. 

      Embargo

    • D. 

      Market economy

  • 7. 
    Money in any form used to exchange for goods.
    • A. 

      Quota

    • B. 

      Currency

    • C. 

      Market economy

    • D. 

      Entrepreneurs

  • 8. 
    To refuse to ship goods to a country.
    • A. 

      Natural Resources

    • B. 

      Investment

    • C. 

      Market economy

    • D. 

      Embargo

  • 9. 
    This type is based on Supply + Demand with the government.
    • A. 

      Entrepreneurs

    • B. 

      Market economy

    • C. 

      GDP

    • D. 

      Quota

  • 10. 
    Limit on imports by a country.
    • A. 

      GDP

    • B. 

      Quota

    • C. 

      Entrepreneurs

    • D. 

      Investment

  • 11. 
    Putting money into a business or project to make a profit.
    • A. 

      Investment

    • B. 

      Tariff

    • C. 

      Market economy

    • D. 

      Natural Resources

  • 12. 
    Someone who takes a risk to start a business.
    • A. 

      Human Capital

    • B. 

      Entrepreneurs

    • C. 

      Natural Resources

    • D. 

      Capital (goods)

  • 13. 
    Things found in nature that benefit the economy. 
    • A. 

      Investment

    • B. 

      Tariff

    • C. 

      Natural Resources

    • D. 

      Traditional economy

Back to Top Back to top