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Forbids trade with another country
GDP Measures:
Economics
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A final review for 6th grade economics
Flashcards
30 cards
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Practice quiz
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Questions
30
Answers
1
GDP Measures:
Imports
Both
Neither
Exports
2
Forbids trade with another country
Physical Trade Barrier
Embargo
Quota
Tariff
3
Which of these is NOT an example of a natural resource?
Grass
Time
Plastic
Water
4
The social science that deals with production,distribution, & consumption of goods and services
Economics
Entrepreneurship
Environment
Free Enterprise
5
The organization, management, and financial responsibility of a business enterprise
Credit
Invest
Bonds
Entrepreneurship
6
Businesses make economic decisions, but the govt regulates them to make sure they are safe/fair
Command
Mixed
Market
Traditional
7
Australia is close to a traditional economy
True
False
8
Competition between companies
Human Capital
Free Enterprise
Interdependent
Opportunity Cost
9
What does GDP stand for?
Gross Dollar Profit
Gross Domestic Product
Growth Dollar Profit
Growth Domestic Product
10
Tax put on goods imported from other countries
Physical Trade Barrier
Quota
Tarriff
Embargo
11
The amount of a good or service that buyers are willing/able to purchase
Good
Scarcity
Demand
Supply
12
Items that you can buy/consume
Services
Goods
Exports
Imports
13
Which of these can help raise a country's GDP?
Human Capital
Entrepreneurship
Natural Resurces
Capital Goods
14
The amount of an item produced for sale
Demand
Export
Import
Supply
15
Items that a country sends to another country
Export
Scarcity
Import
Supply
16
Something that someone does for you that provides you with something you need/want
Goods
Service
Import
Export
17
Bartering is used in this economic system
Traditional
Mixed
Market
Command
18
The United States has a market economy
True
False
19
All things found in or on the earth
Natural Resources
Human Capital
Capital Goods
Entrepreneurship
20
Economic decisions are made based on the how buyer&sellers interact in the market
Traditional
Market
Mixed
Command
21
Most command economies are communist
True
False
22
GDP is measured
Once a week
Every other year
Once a year
Once a month
23
Natural Resources are limited
True
False
24
Skills, talents, education, and abilities that human workers possess
Natural Resources
Capital Goods
Human Capital
Entrepreneurship
25
Restriction on the amount of a good that can be imported into a country
Quota
Physical Trade Barrier
Embargo
Tariff
26
What country has the highest GDP?
Cuba
The United States
China
Australia
27
Factories are examples of human capital
False
True
28
Each country needs the others to meet the needs and wants of its people
Capital Goods
Interdependent
Human Capital
Entrepreneurship
29
Cuba is close to a market economy
True
False
30
The government makes all economic decisions
Traditional
Mixed
Market
Command
