Economics

Question 1

Decisions in this economic descision are made by the forces of supply and demand.

Accepted Answer

Market Economy

Question 2

The amount of wealth or material comfort availaible to a person or community.

Accepted Answer

Standard of Living

Question 3

A person who risks their own money to start a business

Accepted Answer

Entrepreneur

Question 4

A trade barrier that completely stops trade with another country.

Accepted Answer

Embargo

Question 5

Total value of all goods/services produced in a country divided by that countries population.

Accepted Answer

GDP Per Capita

Question 6

The goods used to make "stuff" (other goods).

Accepted Answer

Captial Goods

Question 7

A tax placed on imported or exported goods.

Accepted Answer

Tariff

Question 8

What economic system is represented in the cartoon below?

Accepted Answer

Command Economy

Question 9

Resources that are not man made. The image shows examples.

Accepted Answer

Natural Resources

Question 10

To trade without using money.

Accepted Answer

Barter

Questions 10