European Economics

The four types of economic systems are: 

• Traditional, Command, Mixed, & Market
• Traditional, Command, Combined, & Market
• Communism, Capitalism, Free Market, and Macroeconomics
• Microeconomics, Macroeconomics, Individual, and Traditional.

What is an economic system where only the government makes the economic decisions? 

• traditional economy
• free enterprise 
• mixed economy
• command economy

What type of economy do most countries in the world have?

• Market economy
• Command economy
• Traditional economy
• Mixed economy

When someone or a business chooses to specialize or produce certain items.

• Entrepreneur
• Economics
• Voluntary Exchange
• Specialization

Which type of economic system do Russia, Germany and the United Kingdom have?

• Mixed Market
• Command economy
• Traditional economy
• Market economy

After the end of WW2, what was the initial reasoning behind creating the European Union?

• To decrease employment across Europe
• So European countries could trade together on a single market to avoid war
• To ban American goods from entering Europe
• To protect European goods

People are free to travel and trade between the E.U. countries.

• True
• False

Which country left the European Union in 2016?

• The UK
• Germany
• France
• Russia

___________ are goods and services sold to other countries

• imports
• exports
• tariffs
• embargos

What type of economy does the UK 🇬🇧 have?

• Command
• Free market
• Mixed
• traditional