Economic Terms

Economic Terms

Assessment

Flashcard

Social Studies

6th Grade

Hard

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40 questions

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1.

FLASHCARD QUESTION

Front

What are the three economic questions?

Back

What to produce, how to produce, and for whom to produce

2.

FLASHCARD QUESTION

Front

What is a quota?

Back

limit placed on the quantity of imported goods

3.

FLASHCARD QUESTION

Front

A tax placed on imported goods.

Back

Tariff

4.

FLASHCARD QUESTION

Front

a common currency (money) used by several EU

Back

Euro

5.

FLASHCARD QUESTION

Front

Trade in which both partners freely agree to and benefit from the exchange of goods/services. (Trade that is not forced.)

Back

voluntary trade

6.

FLASHCARD QUESTION

Front

Trade of goods and services within a country.

Back

domestic

7.

FLASHCARD QUESTION

Front

Trade of goods and services with other countries.

Back

international

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