stud
bud
Sign up
Log in
Home
Library
Explore
SAT
More
Economic Terms 1st semester 6th Gr Flashcards | StudBud
Explore
/
Economic Terms 1st semester 6th Gr
Economic Terms 1st semester 6th Gr
19 terms
·
StudBud Administration
·
40 plays
Georgia 6th grade first semester Social Studies Economics review
Flashcards
19 cards
F
Practice quiz
P
Host live
L
Questions
19
Answers
1
Countries with high GDPs have invested in physical capital by......
limiting educational training to those who pass tests.
paying teachers higher salaries.
using only natural resources from that country.
building new factories with new technology.
2
Fuel for industry and a source of income when exported to other countries.
entrepreneur
trade barriers
natural resources
human capital
3
the most common type of economic system today
traditional
mixed market
command
market
4
The ability to read and write
literacy
knowledge
education
standard of living
5
Quality of life based on income, education, life expectancy
happiness level
standard of living
literacy rate
GDP
6
taxes placed on imported goods
tariffs
quotas
embargoes
free trade agreements
7
What is the most common currency in Europe?
the pound
the dollar
the euro
the peso
8
What helps raise a country's Gross Domestic Product (GDP)?
high prices
high literacy rate
high population
high number of cars
9
Countries with high GDPs have invested in human capital by.....
building new factories.
improving education and jobs skills training.
buying modern technology.
only educating the smartest students.
10
Countries sometimes set up _____________ to restrict trade with other countries.
confederations
trade barriers
free trade agreements
alliances
11
A country with a high literacy rate usually has a high......
birth rate.
death rate.
standard of living.
population.
12
restrictions on the amount of a good that can be imported
tariffs
free trade agreements
embargoes
quotas
13
supply & demand determines what is sold and what it costs, but there is some government control
command
mixed closer to market
mixed closer to command
market
14
An organization of over 27 countries founded to encourage trade and create peace
European Union
European Economy
NAFTA
European Free Trade Agreement
15
Total value of the goods and services produced by a country's economy in a year
National Income
Standard of Living
Factors of Production
Gross Domestic Product (GDP)
16
Risk-takers who bring new products into the economy represent what factor of production?
physical capital
entrepreneurship
human capital
natural resources
17
forbids trade with another country
free trade agreements
tariffs
quotas
embargoes
18
Factories or any type of machinery used to produce goods or provide services
factors of production
natural resources
human resources
physical capital
19
people who preform any type of work
human capital
entrepreneurs
citizens
physical captial
