SS7E7 Review

What is a tariff?

• a limit on goods exported or imported

• an extra tax on imported goods

• a system of trading that includes bartering

What is a quota?

• a limit on goods exported or imported

• an extra tax on imported goods

• a system of trading that includes bartering

What is an embargo?

• a ban or complete stop of trade with a country that may be considered an enemy

• a limit on goods imported or exported

• an extra tax on goods imported

Almost every country in the world has a _______ economy.

Which statement below would describe the economy of a country placed at #2 on the continuum?

• command

• market

• mixed market - leaning

• mixed command - leaning

Which statement below would describe the economy of a country placed at #4 on the continuum?

• command

• market

• mixed market - leaning

• mixed command - leaning

Which statement below would describe the economy of a country placed at #3 on the continuum?

• command

• market

• mixed market - leaning

• mixed command - leaning

Replace the numbers on the economic continuum with the correct countries (JAPAN, CHINA, NORTH K, SOUTH K, INDIA). Draw the name of the countries ON TOP of the numbers.

Which country would be placed at #3 on the continuum?

• China

• South Korea

• India

• Japan

Which country would be placed at #5 on the continuum?

• China

• South Korea

• India

• Japan