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Vocab. 1
Vocab 2
Vocab 3
Vocab 4
Vocab 5
100
Education, skills, traning the workers have
What is Human Capital
100
Gifts of Nature
What is Natural Resources?
100
Ability of persons to read and write over the age of 15
What is Literacy Rate?
100
Decisions made by private sitizens with no government control
What is Market Economy?
100
A person who takes a risk to start a business
What is Entrepreneur?
200
The governtment is in control of economic decisions
What is Command Economy?
200
Machinery, factories, and technology
What is Capital Goods?
200
Blend of Command and Market systems
What is Mixed Economy?
200
making goods that you can easily produce
What is Sepcialization?
200
Total value of goods and services
What is GDP?
300
Tax on goods
What is Tariff?
300
Limit on goods
What is Quota?
300
based on customs and beliefs of ancestors
What is Traditional Goods?
300
policies that limit the ability of a country to trade with another country
What is Trade Barriers?
300
Ban on trade
What is Embargo?