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LA Economics S16 Flashcards | StudBud
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LA Economics S16
LA Economics S16
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1
Which country has the most economic freedom?
Mexico
Canada
Brazil
Cuba
2
Trade Walls are ways to limit trade.
TRUE
FALSE
3
What is another name for currency?
Credit Cards
Money
Debit Cards
Checks
4
Which people have a traditional economy?
Venezuelans
Mexicans
Cubans
Yanomamo Indians
5
Brazil has a pure market economy.
FALSE
TRUE
6
What economic system would you find supply and demand?
Traditional
Confederation
Command
Market
7
What is the limit on the amount of imported goods called?
Quota
Tariff
Embargo
Trade
8
What economic system is based on "WANTS"?
Command
Comarket
Traditional
Market
9
All modern countries are referred to as Mixed Economies.
TRUE
FALSE
10
GDP (Gross Domestic Product) tells how well your country is doing.
TRUE
FALSE
11
Another name for capitalism or Free enterprise is called?
Market
Mixed
Communist
Command
12
There are many entrepreneurs in Cuba.
FALSE
TRUE
13
What is NAFTA's purpose?
Export goods
Tax goods
Exchange money
Create a free trade zone
14
What is a government order to stop trade?
embargo
quota
trade barrier
tariff
15
Countries export goods because they don't have everything they need.
FALSE
TRUE
16
Which is an example of human capital?
Training on new software
Hammer
Books
Computer
17
What are "gifts of nature"?
Natural Resouces
Human Capital
Money
Physical capital
18
Which economic system makes economic decisions based on customs and habits from the past?
Mixed
Command
Market
Traditional
19
Which is an example of specialization?
Costco
Target
Walmart
Dutch Monkey Donuts
20
In which economic system does the government make economic decisions?
Command
Traditional
Comarket
Market
