Which economic system has the government in control?
What is command.
100
Gross Domestic Product (GDP) is how much _______ a country makes per year?
What is MONEY
100
Give an example of a natural resource
answers may vary:
air, cattle, fish, oil, gold, etc.
200
This trade barrier puts a limit on the amount a country can trade.
What is a a quota.
200
Which economic system has people in control?
What is market.
200
What type of capital is the labor/work? The people who DO the jobs.
What is human capital
200
Give an example of human capital.
teachers, police officers, hair dressers, etc.
300
This trade barrier makes countries pay a tax on imported goods.
What is a tariff.
300
Which economic system has both people and government in control?
What is mixed
300
Which type of capital are the factories and machines that make the products?
What is capital good.
300
Give an example of capital goods.
Factories, machines, ice machines, popcorn poppers, etc.
400
A protective tariff does what?
What is to increase the prices of imported goods and protect a country's own industries from foreign competition.
(To make sure that a countries OWN products sell before a foreign countries products do)
400
Which economic system do people trade and barter for goods and services?