AF_05_Economics (SS7E1, E2, E3)

AF_05_Economics (SS7E1, E2, E3)

Assessment

Flashcard

Social Studies, History

7th Grade

Practice Problem

Hard

Created by

Wayground Content

FREE Resource

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26 questions

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1.

FLASHCARD QUESTION

Front

Why is a system of currency exchange necessary for international trade?

Back

To pay for goods purchased from different countries

2.

FLASHCARD QUESTION

Front

Gross Domestic Product
is a measure of the total value of all.....

Back

The goods and services produced in an economy over a period of time

3.

FLASHCARD QUESTION

Front

What is a tariff?

Back

A tax placed on imports.

4.

FLASHCARD QUESTION

Front

What is a tariff?

Back

A tax placed on imports.

5.

FLASHCARD QUESTION

Front

A tariff....

Back

Encourages people to buy goods made from their country.

6.

FLASHCARD QUESTION

Front

What is an embargo?

Back

A government order to stop trade.

7.

FLASHCARD QUESTION

Front

In a command economy, who holds power over the economy? Options: The people, The government, Beyonce, The traditions of your ancestors

Back

The government

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