Government & Economics

When a country limits the amount of a product that can be sold to another country

Based on customs and traditions

Things found on Earth

Power divided between one central authority and several local authorities

In a limited monarchy, the king or royal leader's power is limited by

Privately owned businesses

When one country completely refuses to trade with another country

People that perform the work

Person that takes a risk by starting a business

Which is not one of the 4 factors of production?

The real executive power is found in the ____________________ in a parliamentary system.

Power held by ONE central authority

Another name for capitalist is

In some monarchies, the king has unlimited power. This is

Government that gives more power to smaller regions and has a weak central government

A country with no government is called

The production, consumption, and distribution of goods and services in a society

Keep products from being bought and sold between countries

Community barters goods and services

All countries have a _________ economy.

Things needed to produce a good or service

Government provides needs of people

Which is not one of the 3 economic questions?

Which is NOT a trade barrier?

Things people perform for other people (ex. haircuts)

In a parliamentary system, how is the Prime Minister elected?

Government determines prices and wages

Taxes charged for goods that leave or enter a country

The United States has a ____________ government.

Business owners determine what to produce