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