ECONOMY!!!
This is the most common economy in the world
What is a market economy?
Something that slows or blocks trade entirely
What is a trade barrier?
This economy type is run by a country's government
What is a command economy?
This is the most market leaning country in Europe
What is the UK?
What is currency exchange?
This economy type relies on tradition
What is a traditional economy?
What are specializations?
This economy type is driven by supply and demand
What is a market economy?
This is the area in Europe where EU members all use the Euro as their currency
What is the Eurozone?
This is the currency used in most European Countries
What are euros?
This is a scale ranking world economies
What is an economic continuum?
When trading become voluntary trade
What is both side agreeing to trade with each other?
This shows the average income the citizens of a country make in a year
What is GDP per capita?
What is Germany?
This is the value of a country's currency to another one
What is the exchange rate?
This is the economy of this classroom >;)
What is a command economy?
This limits the amount of goods that come into a country from another country
What is a quota?
Domestic products come from here
What is the country it is made in/ home?
This was the event of the UK leaving the EU
What was Brexit?
What is a tariff?
This is the most command leaning economy of the countries we have talked about so far
(European countries that is!)
What is Russia?
This restricts trade with another nation entirely
What is an embargo?
This is money given to business from the government to help them lower the cost of it's products and services
What is subsidization?
This trade barrier is refusing to buy things from a certain country or company
What is a boycott?
This trade barrier economically punishes another nation
What is a sanction?