Countries
Which Country has the most economic freedom in Europe?
United Kingdom.
Describe human capital.
Education, training, and the health of workers.
The group of countries in Europe that allow free trade with each other.
What is the European Union?
What does it mean to specialize in something.
A country focuses on goods only they have and can make to profit.
Which type involves most Government control?
Command Economy.
Germany is what kind of economy?
Germany is a mixed economy, which is mostly market but has much command.
What are capital resources?
Machines, factories, and tools.
The E.U uses what currency?
Euro€.
When a country converts its currency to another countries currency to be more convenient for trade.
Currency exchange.
In what economy are citizens allowed to produce what they want?
Market economy.
Russia leans more towards what economic system?
Command.
Natural resources.
Oil, minerals, water, fertile land, etc.
What is the goal of the E.U?
Economic cooperation and free trade between members.
When a country limits the amount of a product that can be sold to it.
What is Quota?
In what economic system is there little innovation?
Traditional economy.
The United Kingdom is mostly what economy?
What is market economy.
Someone who starts businesses.
What is an Entrepreneur?
A country in the E.U
When a country makes another's country trade more expensive to encourage citizens to buy their own country's produce.
What is tariffs.
When a country is no particular economy.
What is mixed economy?