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Economic Systems Test

Enter the letter for the matching Answer
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1.
What are capital goods?
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2.
What is standard of living?
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3.
What is a quota?
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4.
What is a mixed economy?
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5.
What is an entrepreneur?
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6.
What are the three questions answered by the economic system?
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7.
How many countries have a pure market economy?
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8.
What is command economy?
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9.
What are three ways to invest in human capital?
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10.
What is traditional economy?
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11.
What is exchange rate?
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12.
What is an embargo?
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13.
What are human resources?
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14.
What is a tariff?
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15.
What is literacy rate?
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16.
What is a Market Economy?
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17.
What is Gross Domestic Product (GDP)?
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18.
What are natural resources?
A.
A person's set of skills, talents, and education that they use in the workplace
B.
What to produce? How to produce it? For whom to produce?
C.
A ban on trade with a country for political reasons
D.
None
E.
Economy where the government decides what goods are made and who they will be made.
F.
Economy composed of a combination of government and private owned businesses.
G.
Artificial supplies/tools that we used in a business
H.
The value of all the goods and services produced in a country per year.
I.
Items from Earth that we use for our own purposes
J.
A limit on how many goods a certain country can send you
K.
Education, training, health
L.
People with new ideas that are to take risks to start a business or make a product
M.
Economy based on customs and traditions.
N.
The percent of how many citizens in a country can read and write.
O.
An economic sysytem based on free trade and competiotions (free enterprise, capitalism)
P.
How well the citizens of a country live based on public services, education, health care, jobs.
Q.
A tax on imported goods
R.
How much one currency is worth in terms of another
Type the Answer that corresponds to the displayed Question.
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19.
What are two examples of a capital good?
Type the Question that corresponds to the displayed Answer.
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20.
Making a living doing what a person does best.
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21.
The social science that deals with the production, distribution and consumption of goods and services.
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22.
Money
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23.
Exchanging of one good or service for another.
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24.
How much people have or how much is avaliable.
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25.
What or how much people want.
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26.
Economic system in which private owners control the production of goods and profit (free enterprise, market economy)

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