Europe Economics, Trade Barriers

Which of these European countries has the least economic freedom and most government control?

• Germany

• Russia

• United Kingdom

• North Korea

Russia's economy is...

• Mixed

• Command

• Market

• Traditional

Which country is it hardest to start a business in?

• Russia

• United Kingdom

• Germany

• Spain

Russia is best at producing and trading oil; Germany exports cars. What is this concept called?

• Specialization

• Tariff

• Embargo

• Quota

What is a tariff?

• Tax on imported goods

• To stop trading with a business or country

• A limit on imported goods

A quota is a limit on an imported good. Which is an example of a quota helping local farmers?

• Taxing corn from another country.

• Allowing less corn to be bought from other countries' farms.

• To stop buying corn from another country

Russian government found deadly chemicals in German hamburgers. What will keep Russians safest?

• An embargo against German hamburger meat producers

• A tariff on German hamburgers

• A quota on German hamburgers

• Free trade with German hamburger producers

What does this picture represent best?

• Specialization

• Tariff

• Embargo

• Quota

You are on a trip to Germany. You swap your dollars for Euros. Why exchange currency?

• To buy or sell goods in Germany; they won't take dollars.

• Because dollars are worth the same as other currency

• Because Euros are a great souvenir.

Free trade means there are no trade barriers, like tariffs. Which countries enjoy free trade?

• Spain, Italy, Germany

• Spain, Italy, France

• Spain, France, Germany

• Spain, France, Germany