ECONOMICS QUIZ

Which of these is an example of an economic sanction?

• Creating trade alliances with bordering countries

• Restricting trade with a country that has a poor human rights record

• Providing poor countries with humanitarian aid

• Refusing to meet with a diplomatic representative of a dictatorship

Which of these statements about the North Atlantic Treaty Organization (NATO) is true?

• An armed attack against one member is considered an attack against all members

• An executive panel controls legislation passed in member nations.

• Members are prevented from conducting trade with non-member nations.

• Members are required to open their boarders to immigrants from other nations.

The World Bank is most associated with which of the following activities?

• Offering military expertise

• Providing loans to poor countries in need

• Supplying medical care after natural disasters

• Supporting political candidates

Which of these would most likely take place in a command economy?

• private ownership of property

• competition between businesses

• Government leaders decide how goods will be produced

• Consumers decide the sales policies of business owners

Which of these best describes the United States’ economic system?

• Mixed

• Command

• Traditional

• Market

This international organization is part of the UN and sends disaster relief aid such as medicine and doctors to countries or states in need.

• NATO

• Red Cross

• World Bank

• World Health

When there is NOT ENOUGH of a good or service this is known as....

• Opportunity Cost

• Embargo

• Scarcity

• Sanction

A severe economic restriction that cuts off trade with a country, intending to harm that countries economy. Example: Cuba

• Sanction

• Tariff

• Economic Consequence

• Embargo

This organization monitors the economies of different countries and tracks data of money supply around the globe.

• Federal Reserve

• International Monetary Fund (IMF)

• NATO

• NAFTA

This organization controls the amount of oil shipped around the world.

• NATO

• OPEC

• NAFTA

• IMF