Economic Systems
What are the types of economic systems and how many are there
What is traditional, market, command and mixed economies.
A trade barrier which places a limit on imported goods
What is a quota
19 countries in Europe are a part of this group which allows them to have the same currency
What is the European Union
What is voluntary
Trade in which both partners freely agree to and benefit from the exchange of goods/services
What is a Presidential Democracy
In this type of economic system citizens rely on bartering to receive the goods that they need
What is a traditional economy
A trade barrier which blocks all trade with another nation
What is an embargo
The type of Currency Europe has
What is the Euro
Products/services that can be produced most efficiently a cost-effectively
What is a President
Which economic system is considered to have the most government control
What is a command economy
A trade barrier which places a tax on imported goods
What is a Tariff
The approximate value of on nation's currency in terms of another
What is exchange rate
Any activity which slows or blocks the free exchange of goods and services between nations
What is a trade barrier
This person was a dictator in Germany
What is Adolf Hitler
In this economy entrepreneurs are able to flourish and sell their goods
What is a market economy
If Europe decided to trade with South America and tax was being added to all of the goods this type of trade barrier has been put in place
What is a tariff
Converting one nations money into an equivalent value/quantity of another's
What is currency exchange
Europe is considered to be either a continent or a country
What is a continent
Citizens are allowed to participate in government (i.e. voting) in an autocratic or democratic government
What is a democratic government
How does a traditional economy answer the economic questions: How to produce?
What is how they have always produced it
Cuba has not been allowed to trade with other countries due to past "mistakes" what type of trade barrier has been placed on them
What is an embargo
A nation's money
What is currency
On a continuum chart this country in Europe is considered to be more command leaning
What is Russia
If you were to move to Europe what type of governments would you find
What is parliamentary and presidential democracy