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Europe Unit 3 Flashcards

Europe Unit 3 Flashcards

Assessment

Flashcard

Social Studies

6th Grade

Practice Problem

Easy

Created by

Levi Hale

Used 1+ times

FREE Resource

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30 questions

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1.

FLASHCARD QUESTION

Front

Command Economy

Back

An economy that is planned and controlled by the central government.

2.

FLASHCARD QUESTION

Front

Pure Command Economy

Back

There is no pure command economy. Central governments can do whatever they see fit to make citizens productive.

3.

FLASHCARD QUESTION

Front

Market Economy

Back

An economy where the prices of goods and services are determined by supply and demand, not controlled by the government.

4.

FLASHCARD QUESTION

Front

Human Capital

Back

Labor: the value that people bring to the workplace. Examples include education, insurance, good healthcare, and job training.

5.

FLASHCARD QUESTION

Front

Entrepreneur

Back

A person who takes a risk to start a business with the goal of earning a profit.

6.

FLASHCARD QUESTION

Front

Embargo

Back

A government order to stop trade with another country to pressure its government. Example: The EU prohibiting the import of meat products from animals treated with growth-promoting hormones.

7.

FLASHCARD QUESTION

Front

Tariff

Back

A tax on imported goods (e.g., the US taxes 30% on all softwood coming into the US from Russia).

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