Economic Systems
Trade Barriers
Economies of the UK and Germany
Russian Economy
Other questions
100
An example of this type of economy would be an agricultural society.
What is a traditional Economy
100
This is a tax on imports.
What is a tariff
100
The United Kingdom has this type of economy.
What is a mixed market
100
Russia has what type of economic system.
What is a Mixed Market system
100
Name the currency of the European Union
What is the Euro
200
In this economic system supply and demand determines what is produced and sold.
What is a Market system
200
This is a limit on the amount of a good that can be imported.
What is a quota
200
Germany has what type of economy.
What is a Mixed Economy
200
In Russia how long does it usually take to start a business.
What is months
200
Currency is another word for what?
What is Money
300
Most countries have this type of economic system in place.
What is a Mixed economy
300
This trade barrier forbids trade with another country.
What is an Embargo
300
In the United Kingdom who decides which goods and services will be produced.
Who are business owners
300
Russia is closer to which type of economic system on the continuum that we have looked at.
What is a command economy
300
This is the limited supply of something
What is scarcity
400
In this economic system the government controls all production and distribution.
What is a command economy.
400
Name one reason for an embargo.
What is political reasons or unsafe products
400
In Germany who owns businesses and farms.
What is private citizens and corporations.
400
Russia is transtioning from this type of economic system to this type of economic system.
What is a command economy to a market economy
400
This is a term used when people trade items instead of paying for a good or service with money.
What is Barter
500
The three questions which all economic systems must answer are.....
What to produce, how to produce, For whom to produce.
500
The European Union was primarily set up to establish what?
What is Free Trade
500
In the United Kingdom who decides the prices of goods and services
Who are buyers and sellers
500
In Russia who decides the prices for goods and services?
Who are private citizens and corporations and some government regulation.
500
Why does the use of the Euro by many countries make trade easier among European nations.
Because with one currency they do not have to exchange currencies because many countries use the Euro.
M
e
n
u