Economics- Final Exam Review

Front

_______ is an economic system in which the laws of supply and demand determine the price of items

Back

Capitalism

Front

_______ is an economic system in which the government has limited (little) intervention

Back

Capitalism

Front

_______ is an economic system that trades handmade items instead of using money to buy things.

Back

Traditional

Front

_______ is an economic system that relies on harvesting (farming) for families and villages

Back

Traditional

Front

Total Government Influence on production (economy)

Back

Communism

Front

Profits are redistributed by the government. Options: Capitalism, Communism, Socialism, Traditional

Back

Communism

Front

Which economic sector takes the raw material (cotton, wood...) and turns it into finished products (shirts, furniture)?

Back

Secondary

Front

the purpose of EU and NAFTA is to-

Back

promote trade and reduce economic barriers

Front

NATO was created to-

Back

maintain international peace and security