Europe
Aussie
Latin America
Canada
Rando
100
Type of economic system that Germany has.
What is mixed market
100
What type of economic system does Australia have?
What is Mixed-market (extremely close to market)
100
Latin America country who has an embargo placed on them by the USA.
What is Cuba
100
Type of economic system that Canada has
What is mixed market
100
three trade barriers
What is 1. Tariff 2. Quota 3. Embargo
200
Name of currency that most European countries use
What is the Euro
200
Name of Australian currency
What is Australian Dollar
200
Type of economic system that Mexico has
What is mixed market
200
When a country focuses on a few things to create so that they can make them quickly and make lots of money off of them, they ______ in this product.
What is specialize.
200
Explain the relationship of investing in physical capital and the GDP of a country.
What is when a country invests in physical capital, they are spending money to make sure they have good equipment and good technology to be able to produce more. The more they produce with this good equipment, the higher their GDP will be.
300
What type of economic system does the UK have?
What is mixed-market
300
Explain Entrepreneurs
Who is a person who takes risks to start and run their own business
300
Type of economic system that Cuba has
What is Command
300
Name of Canada's currency
What is Canadian Dollar
300
GDP
What is the measure of how much a country makes in one year.
400
How does the natural resources of a country help the economy?
What is the more natural resources a country has the more money they can make by selling them to other countries, which helps the economy
400
The group of people in Australia who practice a traditional economy.
What is Aboriginals
400
Explain NAFTA
What is where the North American countries can trade freely (without tariffs) between each other.
400
Canada's #1 trading partner
What is USA
400
Explain traditional Economy
What is where there is no money, they barter for what they need. They hunt and gather what they need to survive.
500
What is exchanging currency?
What is trading out your own country's money for another country's money in order to be able to trade and buy things from that country.
500
Literacy rate of Aussie
What is 99%
500
Latin American country with healthiest economy
What is Brazil
500
What two physical features are used to for transporting materials and natural resources to USA and Europe from Canada?
What is the St. Lawrence River and the Great Lakes
500
three questions every economic system has to answer
What is 1. what to produce 2. how to produce it 3. whom to produce it for
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