Economic systems
What economic system does Saudi Arabia have?
Saudi Arabia has a mixed command economy
What is a tarrif?
A tariff is something a country places on another country to put taxes on imported goods.
What is human capital?
Human capital is the process of which humans create goods and services.
What economic system did Israel have originally?
Israel had a mixed market orginally
Why might a government put a embargo on another country?
A government might put an embargo on another country because they don't believe in how the other country leads their country.
What is the definition of capital goods?
Capital goods is goods that are used in producing other goods.
What is a traditional economy?
A traditional economy is an economy that is based off a tradition.
What is a quota?
A quota is something a country puts on another country to limit the amount of things imported.
What is entrepreneurship?
Entrepreneurship is the process of taking in finical profit.
What economic system did Turkey have originally?
Turkey had a all command economy originally
Tariff's affect the country its placed on by having lower income, reduced employment, and lower economic out put.
What is investment?
Investment is were you invest money into something or you put your money towards something.
What is the difference between a command and market economy?
The difference between a command and market economy is that in a command economy the government controls everything and in a market economy it is based off supply and demand.
What is an embargo?
A embargo is something another country places on another country to stop trade with that country.
What is the difference between investment and entrepreneurship?
Investment is where you put your money towards something and entrepreneurship is were you take on finical profit.