European Economics Review 2023

When you must swap out your money for another country's money so you can buy things

In what type of economy would you be most likely to see a barter system?

Communist countries have economies most closely related to the ______________ type of economic system.

Timber, water, gold, and oil are all examples of _________________________.

Which one of the following countries has a the least economic freedom and leans the closest towards a command economy?

The money a country uses is known as their ___________.

Education, skills, and training are examples of _________________________.

What are the three basic economic questions?

Capital Goods, Human Capital, Natural Resources, and Entrepreneurship are the _____________________________________.

What two countries out of the UK, Germany and Russia are closest to a pure market economy?

the state of being extremely poor

What economic system experiences competition between businesses?

In what type of economy does the government make all of the decisions?

What kind of economy is based on older traditions and beliefs?

Computers, tools, machinery, and factories are all examples of _____________________.

Ban on trade with another country

The percentage of people in a country 15 and up that can read and write

Which one of the following countries today has the most economic freedom and leans the closest towards a market economy?

Taking a risk to start your own business is called __________________.

extra tax on imported goods

What economy makes its decisions based on the buyers and sellers choices?

In what economic system are all economic questions answered by the government?

When a country does not have an abundance of the supplies/resources they need and they have to look elsewhere

If the literacy rate of a country is high, more than likely their overall standard of living is ___________ .

True or False: Technically the UK, Germany, and Russia all have mixed economies.

_________________ means to have a large supply of a good or product.

a limit on imported goods

A ________________ economy would most likely be used among tribes in a remote area.

What country has been moving away from a command system since the fall of the Soviet Union?

What is bartering?

What kind of economy is a blend of both a market and a command economy?