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Types of economies
European Economies
economic Quiz
Which Trade Barrier
Vocabulary
100
Command, Market , and Traditional
What are the 3 basic types of economics systems?
100
Service Industries like banking, insurance, and business services account for most of this countries GDP.
What is the United Kingdom.
100
Mixed economy
What is the most common economic system?
100
No Brazilian beef can be sold to Spain.
What is an embargo?
100
natural resources
What is a gift of nature?
200
Mixed economy
What is an economic system that has some characteristics of a market economy and command economy?
200
This economy has struggled since it has transitioned from a former command economy.
What is Russia?
200
This term describes the economic system of the former Soviet Union.
What is a command economy
200
Only 10,000 barrels of oil can be delivered from Saudi Arabia this month.
What is a quota?
200
This country has lots of resources, but it is difficult and expensive to get to them.
What is Russia
300
The government controls what is produced and how it is produced.
What is a command economy?
300
This country was once divided, but is still the strongest economy in Europe.
What is Germany
300
The US will charge an extra 10 cents per pound on bananas from Costa Rica.
What is a tariff?
300
Goods shipped to another country.
What is an export?
400
Supply and demand determine what is sold and how much it costs.
What is a market economy?
400
The second largest economy in the European Union.
What is the United Kingdom?
400
Economist use this to measure the economic health of a country.
What is GDP?
400
The European Union will not accept any products from an African nations because its government will not allow free speech or freedom of religion.
What is an embargo?
400
Goods brought into a country.
What is an import?
500
People make what they need to survive
What is a traditional economy?
500
Products can move freely, without tariffs, to other nations that are a part of this organization.
What is free trade agreement?
500
Factors that influence the economic growth of a country are capital, natural resources, entrepreneurship, and ________.
What is human capital?
500
This was primarily established to set up free trade among countries in Europe.
What is the European Union.