ECONOMICS

Economic system in which customs and ways of the past determine what is produced, how it's produced, and for whom it is produced.

• traditional economy
• command economy
• mixed economy
• market economy

Economic system in which supply and demand determines what to produce, how to produce, and for whom to produce as buyers and sellers have to freedom to do business without any government interference.

• market economy
• command economy
• traditional economy
• communist

A __________ is a tax on goods and services.

• quota
• tariff
• embargo
• subsidy

When a government sanction prohibits trade between nations.

• embargo
•  quota
• tariff
• subsidy

Trade barrier that is a legal limit on goods and services.

• tariff
• quota
• embargo
• subsidy

--Embargoes
--Quotas
--Subsidies
--Tariffs

Which would be a good title for this list?

• "Rule of War"
• "Benefits to Consumers"
• "Obstacles to Free Trade"
• "International Diplomatic Tools"

The countries of the European Union place a limit of 5,000, Japanese automobiles allowed to be imported into its member countries per month. 
This is known as a(n) 

• embargo
• tariff
• quota
• subsidy

--ditch digger
--computer programmer
--international financier
All of these are examples of

• natural resources
• entrepreneurship
• human capital
• capital goods

Machines, computers, assembly lines, technology, etc. are all examples of 

• human capital
• capital goods
• natural resources
• entrepreneurhsip

Job training, education, healthcare, math skills, etc. are all examples of 

• capital goods
• natural resources
• entrepreneurship
• human capital