Economy

Question 1

____________ is a restriction placed on countries preventing them to trade with other countries

Accepted Answer

Trade Barriers

Question 2

Something that you can buy or consumed is a

Accepted Answer

Good

Question 3

Which of the following is a reason why people exchange currency?

Accepted Answer

To buy and sell with other countries

Question 4

Countries use trade barriers when

Accepted Answer

they do not want competition

Question 5

An example of a human capital would

Accepted Answer

a person

Question 6

What words below describes an entrepreneur?

Accepted Answer

innovative, ideas

Question 7

Entrepreneurship is

Accepted Answer

ideas and innovation in starting a business

Question 8

Why are entrepreneurs valuable to the economy?

Accepted Answer

The increase the countries GDP

Question 9

Mixed Market is a combination of Traditional and Command market

Accepted Answer

False

Question 10

Which of the following is NOT one of the basic questions asked in the economic systems?

Accepted Answer

Where to produce

Question 11

Which of the following countries have a mixed economy?

Accepted Answer

All of them

Question 12

Which country has a command economy?

Accepted Answer

China

Question 13

The dollar for the EU is

Accepted Answer

a euro

Question 14

What type of capital is an employee?

Accepted Answer

Human Capital

Question 15

In this economic system, decisions are based on what its people want to buy and sell.

Accepted Answer

Market

Question 16

Which form of economy involves people making their own clothes, and tools and farming?

Accepted Answer

Traditional

Question 17

United States cannot get sugar cane from Cuba is an example of

Accepted Answer

Embargo

Question 18

The measure of a nation's economic performance by a standard is called

Accepted Answer

gross domestic product

Question 19

Which is a tax placed on imported goods?

Accepted Answer

Tariff

Question 20

A person that has ideas and takes risks in starting a business is

Accepted Answer

an entrepeneur

Question 21

Only 3,000 pairs of American blue jeans can enter France is an example of

Accepted Answer

Quota

Questions 21