SW Asia Government & Economics

An economic system which is based on customs and traditions.

• Market

• Traditional

• Command

• Mixed

An economic system in which individual choices decide what goods and services will be produced, how they will be produced, and for whom they will be produced.

• Traditional

• Command

• Market

• Mixed

A Command Economy is an economic system that has mixed features of command and market Economies.

• True

• False

A Mixed Economy is an economic system that has mixed features of command and market economies.

• True

• False

Goods brought into one country from another through trade or sale.

• Specialization

• Bartering

• Import

• Export

Goods and services traded with or sold to other countries.

• Specialization

• Tariffs

• Imports

• Exports

A price charged for goods or services brought into one area from another area.

• Tariff

• Quota

• Embargo

• Currency

When a country refuses to import or export certain goods; often backed by military force.

• Tariff

• Quota

• Embargo

• Currency

Money that is used as a way to trade goods and services; ex. paper bills, coins.

• Bartering

• Tariff

• Quota

• Currency

Activities performed by people to satisfy economic wants.

• Goods

• Services

• Specialization

• None of These