Economics

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

Why might a country choose to import a good that it already produces?

How do you calculate GDP per capita?

This describes the skills, education, and abilities people need to do a job.

A limit on the quantity of an item brought into a country:

Someone who takes a risk by starting a new business is known as what?

A ban on trade with a particular nation for political purposes:

These are the goods and services sold and shipped to another nation:

Which of the following describes Gross Domestic Product (GDP)?

A tax on imported goods:

These are the tools, machinery, factories, etc. that you need to make goods and services.

In this type of economy, supply and demand guide decisions, but the government has some regulation.

When a country focuses on just a few things that it does well, this is known as...

One US dollar is equal to 5.56 Brazilian reals. This is an example of...

Which of these IS NOT an economic question every country must answer?

In which type of economy are decisions made purely by supply and demand?

What type of economy makes decisions based on what their ancestors have always done?

A higher GDP per capita should also mean a country has a higher...

These are the goods and services bought and brought in from another nation:

If a country's economy is growing, then...

This is the most common type of economy in the world, by far.

GDP per capita takes ________ into account when comparing two or more economies.