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Duplicate of Economics Flashcards | StudBud
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Duplicate of Economics
Duplicate of Economics
13 terms
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StudBud Administration
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A review of the basics of #economics terms
Flashcards
13 cards
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Practice quiz
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Questions
13
Answers
1
Which is an example of a trade barrier?
Embargo
Export
Currency
Import
2
An economy that is made up of more than one type of economy is called a what?
Market economy
Traditional economy
Mixed economy
3
A person who starts their own business or organization is called a(n)....
seller
entrepreneur
consumer
4
What is human capital?
the stopping of goods going into a country
skills people use in order to produce goods and services
machines and equipment used to produce goods and services
tax placed on exported goods
5
An economy that is controlled by the government is called a(n)...
Traditional economy
Command economy
Market economy
Mixed economy
6
a product brought INTO a country is called a(n)....
Import
Quota
Tariff
Export
7
What is a tax placed on imported goods?
Import
Capital resource
Tariff
Export
8
A Mexican peso is an example of what?
Currency
Human resource
Capital resource
9
What is the value of goods and services produced within a country?
Currency
Money
Clean Domestic Product
Gross Domestic Product
10
Which is an economic question?
For whom to produce?
How long to produce?
How much is it going to cost?
Where to produce?
11
A country's focus on making one specific good or service is what?
Quota
Specialization
Trade
Embargo
12
What is a system of production, distribution, and consumption?
Command economy
Market economy
Traditional economy
Economic system
13
Which is an example of a PHYSICAL CAPITAL resource?
Computers
Communicating
Reading
Writing
