How to hurt that country
A tax that one government puts on there produced goods and services that are being imported from other countries
What is a tarrif?
The agreement countries can have with each other to make sharing goods easier
What is free trade agreement?
The translation of Laissez- Faire.
What is "let it be"?
Definition of equilibrium in supply and demand
What is the perfect spot where supply and demand lines meet?
A market in which the government fully controls the economy
What is command market?
The problem with making a tariff too high
What is stopping from buying the goods. Another thing is that the tariffs could lead to conflicts between 2 nations or even start a trade war.
A monetary term countries give to others to help their economy?
What are loans?
Where are both parties better off after the exchange?
What is, when there is Value Added exchange?
This happens if the price rises
What is the quantity demanded goes down?
A market that has help from the government but also has freedoms
What is a mixed market?
The causes of trade wars between two countries?
What is the prices of goods that were being exchanged previously are at a height that another country refuses to pay for?
How does the free movement of goods and capital benefit countries?
What is it can make trade easier and quicker by allowing each country to work together.
The Federal Reserve's main job
What is controlling the money supply?
This happens if the price falls?
What is the quantity supplied goes down?
Example of a country that uses a mixed market (Answer may vary)
What is America, UK, Germany, France
What could negatively impact a country's economic development?
What is Depending on the country's trade routes and Resource availability?
How can education and technology transfer help boost the economic growth of a country?
What is by allowing the country to develop faster without the economic issues of doing it alone?
When the government changes the money in circulation
What is monetary policy?
This happens when the prices rises
What is the quantity supplied goes up?
A market that has no outside control and the people control the economy
What is a free market?
Can demographics assist in negatively impacting a country or region's Economic development?
What is yes, they can. Specifically education level, average age and birthrates, and population distribution.
Why might countries in the EU want to have strong diplomatic relationships with each other?
What is this can increase economic cooperation and remove the issue of competing ideologies?
When the government changes how taxes are spent
What is fiscal policy?
This happens if the price falls on a product
What is the quantity demanded goes up?
Example of a country that uses a command market (answer may vary)
What is China, USSR, North Korea, Cuba