European Economics Review

A government order that stops all trade with another country.

• Quota

• Tariff

• Embargo

• Free Trade

A tax put on imported goods by a government

• quota

• tariff

• embargo

• free trade

An economic system in which the government makes all economic decisions

• mixed

• market

• command

• traditional

In this economic system, how and what to produce are determined by customs and traditions

• mixed

• market

• command

• traditional

International trade that is not subject to protective regulations or tariffs (no trade barriers)

• quota

• tariff

• embargo

• free trade

Most economic systems are this type of economy.

• mixed

• market

• traditional

• command

In order to limit the number of cars that will be imported, a country can choose to put a __________________ on the product.

• quota

• tariff

• embargo

• free trade

Germany, Italy, and France are all members of ________________.

• NAFTA

• EU

• GDP

• USA

The money a government spends on education is an investment in ______________________.

• exchange rate

• natural resources

• human capital

• quota

The total value of all goods and services produced within a country in a year

• specialization

• currency exchange

• gross domestic product

• quota