Economics 6th Grade

Front

Which economic system involves government ownership of land and resources, as well as major industries?

Back

Command

Front

Which economy answers the basic economic questions by following customs and habits of the past? Options: Command, Market, Traditional, Mixed

Back

Traditional

Front

Which economy allows business owners and consumers to decide the basic economic questions? Options: Command, Market, Traditional, Mixed

Back

Market

Front

What is the term that refers to the fact that all economies of the world are truly a mix of market and command economies?

Back

Mixed

Front

Which country shown on the continuum, has the LEAST free economy? Options: A, B, C

Back

A

Front

Which country shown on the continuum, has the MOST free economy? Options: A, B, C

Back

C

Front

Which type of trade barrier involves a fee placed on goods brought into a country?

Back

Tariff

Front

Which type of trade barrier involves stopping all trade for political reasons?

Back

Embargo

Front

What is currency?

Back

Money

Front

What effect do currency exchange and trade barriers have on trade?

Back

Decrease trade