Economics Test Review

5. Which economic system has competition, private property and consumer choices?
7. What economy does not give consumers choices and has poorly made goods?
9. A place that has tall buildings, stores and traffic.
10. What is it called when you import or export materials to and from many different countries around the world?
11. What economic activity is cutting hair at a beauty salon
12. A place that has farming and ranching
13. What type map shows how many people live in an area?
15. What economy allows for private ownership for businesses and few government regulations?
16. What economic activity involves working in a factory, putting together parts to make a product?

1. What has natural resources, labor, entrepreneurs and capital goods(man made items)?
2. What economic activity involves growing and harvesting crops?
3. If the U.S. buys fruit from Mexico, this means Mexico is _________ from the U.S.
4. Factors of Production: Labor, Capital Goods, Entrepreneurs,__________.
6. What will happen to the price of corn if a flood destroys the crops?
8. What economy gives consumers choices and offers sales?
14. What economic activity would have an advertisement from Wal-Mart showing clothes at 50% off?