Economic Systems
Encourage/Hinder Trading
Money, Money, Money
Economic Growth
Countries Economy
100
3 Basic Questions of economics.
What is "What to produce? How to produce? For whom to produce?"
100
Buying and selling of items between countries.
What is voluntary trade?
100
The type of money a country uses
What is currency?
100
People who perform labor.
What is human capital?
100
Largest oil reserves in the world.
What is Saudi Arabia?
200
System where government controls the economic system. Government owns the resources and decides who gets the products.
What is command system?
200
Being really good at producing a specific product.
What is specialization?
200

Money from one country must be converted into the currency of another country to pay for goods.

What is currency exchange?

200
The factories or machinery used in economic growth.
What is capital?
200
This country's economy has two parts: oil and everything else. Has a lack of investment in human capital and capital.
What is Iran?
300
Country's economic decisions are based on what its people want to buy and sell.
What is market economic system?
300
Trade barrier that places taxes on imported goods.
What is Tariff?
300
The total market value of the goods and services produced by a country's economy during a specific period of time.
What is GDP - Gross Domestic Product
300
Things that come from the land like minerals and trees.
What is natural resource?
300
A very diversified economic system. Strongest economy in the Middle East.
What is Israel?
400
This system is found inagricultural societies where people live the same way their parents and grandparents did.
What is traditional economic system?
400
Trade barrier that forbids trade with another people.
What is embargo?
400
Having a variety of parts in an economy.
What is diversified?
400
The ideas, innovators and risk involved in starting a business.
What is entrepreneurship?
400
This country realizes its oil won't last forever and has started encouraging entrepreneurship.
What is Saudi Arabia?
500
Most economic systems do not fit into one system exclusively, but fall between pure market and pure command.
What is a mixed economy?
500
Trade barrier that restricts the amount of a good that can be imported into a country.
What is quota?
500

The number of people in a country who can read & write?

What is Literacy Rate?

500
In 1960, five oil rich countries formed an organization to coordinate and unify petroleum prices.
What is OPEC?
500
Country whose economy is most like the U.S.
What is Israel?
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