SW Asia Economics

Front

Tariffs, quotas, and embargoes are examples of

Back

trade barriers

Front

As you move along the economic continuum from market to command, what happens to the amount of government involvement in the economy?

Back

It increases

Front

As you move along the economic continuum from market to command, what happens to the amount of economic freedom in the system?

Back

It decreases

Front

Tools used in the production of goods and services

Back

Captial goods

Front

Something that comes from the Earth or nature that is useful to humans.

Back

Natural Resources

Front

Voluntary exchange of goods and services among people and countries

Back

Trade

Front

An economy that depends on agriculture and bartering, where decisions are often made based on long-held customs, beliefs, or habits

Back

Traditional Economy

Front

An economy where decisions are made at an individual, rather than a government level

Back

Market Economy

Front

When a country focuses on producing the goods and service they can make and trading for what they are unable to produce.

Back

Specialization

Front

An economy where government planning groups make the basic economic decisions

Back

Command economy