stud
bud
Sign up
Log in
Home
Library
Explore
SAT
More
Duplicate of European Economics Flashcards | StudBud
Explore
/
Duplicate of European Economics
Duplicate of European Economics
30 terms
·
StudBud Administration
·
261 plays
Imported from external platform
Flashcards
30 cards
F
Practice quiz
P
Host live
L
Questions
30
Answers
1
No Brazilian beef can be sold to Spain.
Quota
Embargo
Tariff
2
The limited supply of something is known as
entrepreneurship
infinite
natural resources
scarcity
3
"gifts from nature"
goods
capital resources
natural resources
human resources
4
Norway charges a 20% tax on lumber imported from Canada.
Tariff
Embargo
Quota
5
An economy that has characteristics of both command and market economies is a
market economy
traditional economy
mixed economy
command economy
6
What is a tax on imports called?
Quota
Import
Tariff
Embargo
7
What is the problem with exchanging currency?
It costs more to do business because of the fee to exchange
Banks do not like to exchange their money for other currency
People make more money by trading currency.
Most people want to use American dollars to trade.
8
What is the currency people use in much of the E.U called?
euro
ruble
dollar
pound
9
A person who takes a risk and provides the money to start and own a business is an
CFO
mom
executive
entrepreneur
10
A government order to stop trading with another country is an
tariff
quota
embargo
import
11
What is an example of investing in physical capital by a company?
keeping old delivery trucks
training workers to do their jobs better
constructing a new factory
keeping old computers in order to save money
12
Which is an example of an entrepreneur?
a person who runs a gov-owned coal mine
people who operate a hospital
girl who uses her money to start a business selling phones
roofers who work for a business owned by an individual
13
Only 10,000 barrels of oil can be delivered from Saudi Arabia to Italy this month.
Tariff
Embargo
Quota
14
Which economy exchanges goods and services based on customs and traditions?
traditional
command
mixed
market
15
In Russia, the gov owns large industries but private ownership is also allowed.
Traditional Economy
Market Economy
Mixed Economy
Command Economy
16
Which might make an embargo against a country successful?
Merchants are able to continue doing business.
The country does not need to trade with other countries.
People in the country are not affected by the embargo.
The citizens suffer because of lack of supplies and protest.
17
A fee that you pay to trade your money for another currency.
gross domestic product
quota
exchange rate
tariff
18
Which natural resources have helped the Russian economy in the twenty-first century?
machines and equipment
education and health care
highways and factories
oil and natural gas
19
Which key words go with a Market Economy?
government and business
supply and demand
traditions and customs
farming and hunting
20
Only 3,000 pairs of American blue jeans can enter France.
embargo
quota
tariff
21
The money a country spends on education, training, improving the skills and health of workers
human capital
natural resources
capital
capital goods
22
In the United Kingdom, who decides which goods are produced and sold?
the prime minister
business owners
citizens
the monarch
23
Which is an example of investing in human capital?
education
cash
factories
highways
24
The government owns the industries and makes the economic decisions in a
market economy
command economy
traditional economy
mixed economy
25
A specific limit placed on the number of imports that may enter a country is a
import
embargo
tariff
quota
26
The U.S. charges an extra $0.10 per pound on bananas from Costa Rica.
Tariff
Quota
Embargo
27
Which is the least likely to be found in Europe?
command economy
mixed economy
capitalism
traditional economy
28
When a country focuses on the production of certain goods it is called
specialization
human capital
capital
scarcity
29
The factories, machines, technologies, buildings, and property needed to run a business are all
natural resources
physical capital
human capital
entrepreneurship
30
Individual business owners make economic decisions based on what the consumers buy.
market
command
mixed
traditional