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Duplicate of Economics Flashcards | StudBud
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Duplicate of Economics
Duplicate of Economics
20 terms
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StudBud Administration
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A review of the basics of #economics terms
Flashcards
20 cards
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Practice quiz
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Questions
20
Answers
1
What is the value of goods and services produced within a country?
Money
Gross Domestic Product
Currency
Clean Domestic Product
2
Saudi Arabia is an example of what?
Confederation
Dictatorship
Constitutional Monarchy
Absolute Monarchy
3
An economy that is made up of more than one type of economy is called a what?
Mixed economy
Traditional economy
Market economy
4
A person who starts their own business or organization is called a(n)....
consumer
seller
entrepreneur
5
An economy that is controlled by the government is called a(n)...
Traditional economy
Market economy
Mixed economy
Command economy
6
a product brought INTO a country is called a(n)....
Export
Import
Quota
Tariff
7
The United States is an example of what?
Democracy
Oligarchy
Autocracy
Confederation
8
Which is an economic question?
For whom to produce?
How much is it going to cost?
How long to produce?
Where to produce?
9
What is a system of production, distribution, and consumption?
Economic system
Command economy
Market economy
Traditional economy
10
A Mexican peso is an example of what?
Currency
Human resource
Capital resource
11
Which word means "rule by one" ?
oligarchy
autocracy
federal
democracy
12
A parliamentary democracy is run by whom?
Prime Minister
President
King
Dictator
13
Which is an example of a trade barrier?
Embargo
Import
Currency
Export
14
What is a tax placed on imported goods?
Import
Capital resource
Export
Tariff
15
A country's focus on making one specific good or service is what?
Embargo
Quota
Trade
Specialization
16
Which is an example of a confederation?
Saudi Arabia
Israel
The United States
OPEC
17
Which is an example of a CAPITAL resource?
Reading
Computers
Writing
Communicating
18
What is human capital?
machines and equipment used to produce goods and services
skills people use in order to produce goods and services
tax placed on exported goods
the stopping of goods going into a country
19
Which word means "rule by few"?
democracy
autocracy
unitary
oligarchy
20
Which type of power distribution SHARES power?
Unitary
Confederation
Federal
