What type of economy is a combination of the three economy types?
Command
Mixed
Market
Mixed
100
Name the 3 trade barriers we studied.
embargo war quota
quota embargo tariff
tariff tariff war
Embargo, quota, tariff
100
A ruble is the currency of which country?
Mexico
Russia
China
Russia
100
Is the EU responsible for making laws and controlling the military?
yes
no
no
200
What is the currency of the EU?
Dollar
Peso
Euro
Ruppe
Euro
200
Name the 3 economy types we have studied.
Command, Market, Traditional
200
What type of trade barrier involves a limit on goods brought into a country?
embargo
quota
tariff
Quota
200
Oil, coal, water, wind, and soil are all examples of what?
human resources
natural resources
man made resources
natural resources
200
Most economies are of this type_____________
command
traditional
mixed
Mixed
300
Does every member of the EU have to use the euro?
Yes or No
no
300
What economy is based on customs and traditions?
command
market
traditional
Traditional
300
A tax placed on items being imported is known as a _____.
embargo
tariff
quota
Tariff
300
Factories, machines, buildings and computers are known as ______________.
human capital
physical capital
Physical capital
300
What type of economy does the UK and Germany have?
traditional
market
command
Market
400
Name the 3 things the EU works to improve for its members.
industry trade education
farming education mining
mining farming trade
trade, education, farming
400
In which type of economy does the government make decisions about what goods are made?
command
market
traditional
Command
400
Which trade barrier involves the government ordering all trade stopped with another country?
embargo
tariff
quota
Embargo
400
A person who risks money and time to start a business.
business person
sales person
entrepreneur
Entrepreneur
400
What is a benefit of trading with countries that use the same currency?
cheaper and easier
faster and more expensive
It is cheaper and easier!
500
What is the purpose of the EU?
To make a unifiied market.
To make people sell goods only to the European countries.
To make Europe more competitive in the world market.
To make Europe more competitive in the world market.
500
In which economy is the government not involved ,and the people are free to set prices for goods and services.
command
market
traditional
Market
500
Do trade barriers make it easier or more difficult to trade?
more difficult
easier
more difficult
500
Education, training, and the health of workers in a business are known as?______________
human resources
capital resources
Human resources
500
What must a country invest in to increase GDP?
industry and natural resources
human and physical capital
natural resources and physical capital