6th Grade SS-Economic Understanding of Latin America

  A tax on imported goods is a 

• tariff
• quota
• capital
• import 

A quota is a

• restricted trade with another country
• tax put on imported goods
• Limited number 
• profit made by a country over one year

Something that restricts trade with another country is called a(n)

• quota
• embargo
• import
• trade barrier 

The value placed on one's education and skill is called 

• Developing country
• Capital (goods)
• Human capital 
• Developed country 

What is capital (a capital good)?

• profit a country makes in one year
• anything that stops trade 
• products brought into the country 
• anything used to make money 

The profit a country makes over a given time period, usually a year is called 

• Gross Domestic Product (GDP)
• Economic System 
• Export
• Import 

A resource that come from the earth are called

• human capital 
• renewable resources 
• nonrenewable resources
• natural resources 

A system that determines what, how, and for whom something is produced is called a(n)

• developing country 
• renewable resource
• economic system 
• trade barrier 

Anything that stops trade is called

• embargo
• quota 
• trade barrier
• export 

Economic system in which roles and jobs are inherited.

• Traditional

• Command

• Market