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Review for Final Econ SWA Flashcards | StudBud
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Review for Final Econ SWA
Review for Final Econ SWA
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Flashcards
13 cards
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Practice quiz
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Questions
13
Answers
1
What are the Three common reasons for trade barriers?
to encourage citizens to buy domestic product.
To start a war
To invest more in Mr. V's mixtape
to encourage citizens to buy international goods
2
What type of economy depends on trade and barter?
Mix
Traditional
command
Market
3
What should country A invest in to fix these problem?
Capital goods
Human Capital
Natural Resources
Mr. V's Mixtape and Toe warming socks
4
What is Mr. V's and Ms. Fraiz's Favorite Color?
Red
Blue
Green
Yellow
5
How does Saudi Arabia's government differ from Iran?
Iran has the most economic freedom
They are the same
Saudi Arabia has less government control
Iran has no government control
6
Which would affect entrepreneurship in a country the
MOST
?
country used a strong currency
Weather the country is Parliamentary or Presidential
Trade barriers to international trade
Weather the country had a command or market economy
7
What can a country do to increase their literacy rate?
Invest in Human Capital
Invest in Capital goods
Mr. V's Toe warming socks will increase standard of living
Invest in entrepreneurship
8
Mixed market has the most government regulation
True
False
9
Bad roads, Falling buildings, broken Machines... This country needs to invest in?
Infrastructure of capital goods
Natural Resources
Mr. V's Mix tape fixes everything
Human Capital
10
What does a country need to establish for a fair trade?
Production of popular items
A system of trade barriers
High Standard of Living
a system of Currency exchange
11
Tariff, quotas, and embargo are a price increase on what?
Imported goods
they do nothing.
exported goods
Mr. V's mix tape
12
What is the relationship between standard of living and a country with an abundance of oil?
Standard of living has improve due to better education, healthcare, tech
Mr. V's will be rich!
oil have created a lot of jobs
oil does not impact anything
13
Most countries around the world have what type of economy?
Pure Command
Mixed
Pure Market
they dont have any.
