Factors of Economic Growth
This type of productive resource can be found in nature and is not man-made
Natural Resources
A high degree of individual freedom is an advantage of this type of economy
Market Economy
In this type of government the people hold the power, and elections are usually held to choose leaders
Democracy
This organization was founded in 1993 to help guarantee the freedom of movement for people, goods, services, and capital
The European Union (E.U.)
This factor is calculated based on the percentage of adults who can read and write
Literacy Rate
Customs and traditions are the main factor when deciding what to produce in this type of economy
Traditional Economy
In this type of democracy, citizens vote directly for the president
Presidential Democracy
This trade barrier is a restriction on the amount of a certain good that can be brought into a country
Quota
U.K. and Germany are both examples of this type of democracy
Parliamentary Democracy
Investment in education (Human Capital) will most likely result in an increase of this
Gross Domestic Product (GDP)
The prices of goods and services in this economy are determined by the government
Command Economy
In this type of government, power is held by one leader who makes all decisions for the country
Autocracy
This trade barrier is essentially a complete ban on trade with another nation
Embargo
What is the common currency among member of the European Union
Euro
This factor of economic growth includes technology, equipment, factories, machines, tools, etc.
Capital; Capital Goods
In the purest form of this economic system, there is no government involvement; people/businesses make all decisions
Market Economy
In this type of democracy, citizens elect members of parliament, who then elect a prime minister
Parliamentary Democracy
This trade barrier is a form of taxation on foreign products
Tariff
Russia is an example of this type of democracy
Presidential Democracy
This factor of economic growth relates to people, their skills, and education
Human Capital
This type of economy is usually found in communist/socialist nations
Command Economy
In this type of autocracy, power is usually taken by force and many basic freedoms are nonexistent
Dictatorship
A tariff is a tax on ________.
Imports
This large Eastern-European country, is not a member of the E.U due to political and ideological differences
Russia
This factor concerns individuals who start their own business and produce goods or services
Entrepreneurship; Entrepreneur
The economy of the Aboriginal tribes of Australia is an example of this economic system
Traditional Economy
In this type of autocracy, one leader usually inherits power through a family line and rules with absolute power
Monarchy
The most efficient and cost-effective strategy; countries produce what they are best at and trade with others for what they need
Specialization
What role do citizens of U.K. have in electing the leader of the country
They vote to elect members of Parliament, who elect the Prime Minister